Property

Rental demand remains higher for houses than flats

Property Reporter
|
16th October 2020
To Let 556

Newly released research from lettings management platform, Howsy, shows that tenant demand across 22 major UK cities is higher for houses when compared to flats or apartments.

The firm 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 and apartments averages 26%.

Belfast is home to the highest demand for houses at 69%, with Glasgow (59%), Portsmouth (49%), Sheffield (30%) and Cardiff (27%) also ranking with the highest tenant demand for houses.

Demand for rental homes 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, tenants are still snapping up flats and apartments and in some cities, they’re still more popular than houses. Manchester is currently home to the highest demand for flats and apartments at 57% with the rental property type also popular in Liverpool at 53%.

Birmingham also scored high for apartment rental demand (42%), as did Nottingham (35%) and Leeds (33%). Flats were also the most popular property choice in Southampton, Bournemouth, Plymouth, Bristol, Swansea and Newport.

Calum Brannan, Founder and CEO of Howsy, commented: “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. As we slowly return to normality, we should see flats and apartments continue to increase in demand as our major cities reopen their doors both professionally and socially.

"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.”

Related articles
More from Property
Latest from Financial Reporter
Latest from Commercial Reporter
Subscribe
to our newsletter

Join a community of over 30,000 intermediaries and keep up-to-date with industry news and upcoming events via our newsletter.