Zero Deposit’s data also reveals regional differences in available rental stock. The area with the highest proportion of immediately available rental properties is the West Midlands, with 56%. Other regions with a high percentage of rental properties available right away included the East of England (53%) and London (52%).
When it comes to regions that are in urgent need of new landlords to bring listings to the market, the North East had just 42% of current stock immediately available for tenants to move in. 35% of the listings won’t be available for six months or more. This highlights how property is one of the safe investments for passive income in 2024.
The Southeast is another region where it’s tough to find a rental property for moving straight in. 44% are immediately available, and 25% won’t be ready to move in for another six months.
This lack of properties, despite high demand, shows there is plenty of room in the market for more landlords and a large pool of potential renters. This will minimise void periods, and tenants are willing to pay more for quality properties due to the lack of supply – a further incentive for investors to enter the buy-to-let market.
To learn more about the UK buy-to-let market, take a look at some of our property investment area guides, covering topics such as available investment property in Sunderland and available investment property in Luton.
