Higher rental demand for houses as tenants seek more space

There has been a notable increase in rental demand for houses as tenants rush to upsize, new research shows.

Howsy, the lettings management platform, analysed tenant demand across 22 major UK cities and found that houses are currently more sought-after as more renters generally look to get more space for their money as a growing number of people work from home.

Howsy looked at what proportion of rental properties is being snapped up by tenants and how demand differed between property types. The analysis shows that demand for houses is currently at 29% while demand for flats averages 26%.

Belfast is home to the highest demand for houses at 69%, with Glasgow, Portsmouth, Sheffield and Cardiff also ranking highly.

Demand for houses was also higher than flats in Oxford, Newcastle, Cambridge, London, Leicester, Edinburgh and Aberdeen.

While the current pandemic is leading this trend for more space both in the home buying and rental markets, flats are still proving more popular than houses in some cities.

Manchester is currently home to the highest demand for flats at 57% with the rental property type also popular in Liverpool at 53%.

Flats are also the most popular property choice in Birmingham, Nottingham, Leeds, Southampton, Bournemouth, Plymouth, Bristol, Swansea and Newport.

Calum Brannan, founder and CEO of Hoswy, said: “There’s no denying that the current pandemic has caused a shift in tenant demand trends as many have looked for more space in the wake of initial lockdown restrictions.

“However, this trend hasn’t quite swept the nation completely and demand for flats and apartments remains robust in a number of major cities.”

Despite the recent increase in demand for houses, Brannan expects to see flats start to prove more popular once more as soon as all the major cities are able to reopen their doors both professionally and socially.

He added: “This will be welcome news for landlords who have seen demand for flats fall and have had to slash rental prices to secure a tenant.”

Table shows tenant demand for houses, flats and overall across 23 major UK cities split by property preference and sorted by the highest demand to lowest.
City Tenant Demand for Houses Tenant Demand for Flats Overall Tenant Demand
Manchester 44% 57% Flat 24%
Liverpool 52% 53% Flat 25%
Birmingham 37% 42% Flat 22%
Nottingham 20% 35% Flat 32%
Leeds 28% 33% Flat 11%
Southampton 27% 32% Flat 27%
Bournemouth 21% 30% Flat 42%
Plymouth 19% 26% Flat 33%
Bristol 19% 25% Flat 56%
Swansea 21% 21% Flat 28%
Newport 10% 15% Flat 51%
Belfast 69% 0% House 41%
Glasgow 59% 41% House 42%
Portsmouth 49% 36% House 41%
Sheffield 30% 20% House 24%
Cardiff 27% 23% House 26%
Oxford 27% 23% House 27%
Newcastle 26% 20% House 21%
Cambridge 24% 23% House 26%
London 23% 19% House 20%
Leicester 21% 19% House 21%
Edinburgh 14% 8% House 8%
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One Comment

  1. Estategency

    Yawn.

     

    This company is just a call centre – and a very poor one – in the north and the Philippines. I had two clients coming over after they worked with them, and oh boy I had to help them out turn things around

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