Rental markets start to stabilise

The residential rental market is beginning to stabilise with property oversupply decreasing across the UK, according to the Association of Residential Letting Agents (ARLA). The latest ARLAsurvey shows the decline in numbers of tenants, which has led to a surplus of properties to rent, is coming to an end as 83 per cent of members signed up 10 or more tenancies during the last quarter, versus 79 per cent in the previous quarter. Each member signed up an average of 36 new tenancies, compared with 32.6 last quarter.