Across the whole of England, it is estimated that there are over 4.7 million privately rented dwellings. 168,634 of these homes, or 3.6% of the national total, are currently on the market, looking for new tenants.
New research by nationwide buy-to-let specialist, Sequre Property Investment, highlights which regions offer the most promising opportunities for buy-to-let landlords based on a shortage of stock in the current rental market.
When looking at each region of England, the data suggests that there could be higher demand in some regions due to a lower percentage of available rental homes vs the size of the overall rental market.
In the South West, there are some 520,000 private rental homes but currently, just 7,802 of these are available to rent - just 1.5% of the total rental market.
But it’s the North that could present the best opportunity for buy-to-let investors, accounting for the next three lowest levels of available rental properties.
In the North West, just 2.2% of the estimated total private dwellings found in the region are currently available to rent. At 2.4%, this level of available rental homes is only marginally higher in the North East, with Yorkshire and the Humber also seeing this percentage sit well below three per cent (2.5%).
This total of available rental properties sits just above three per cent in the East and West Midlands at 3.1% and 3.2% respectively, as well as the East of England (3.3%).
The South East (3.7%) and London (7.2%) are the only regions to sit above the national benchmark.
Daniel Jackson, Sales Director at Sequre Property Investment, commented: “So much attention is given to the sales market, not least in the wake of Covid-19, but the rental market remains far more relevant for many millions of people in this country. These people need homes - good quality, secure homes - and yet the buy-to-let industry has come under attack from a government that has a vision of England where everybody owns and nobody rents.
"But this isn’t a vision that most people share and so, despite the government’s best efforts, choosing to invest in a region with a lack of available rental properties on the market means you have a great chance of securing reliable, long-term tenancies in high-demand markets.”