There was an 11.5% rise in new rental properties being listed in April, as the results of the pre stamp duty rush were absorbed.
Research conducted by Property Partner examined the total number of new rental properties being advertised in the last month, in comparison to March. The analysis looked at results from 90 towns and cities across Britain.
The study found that in 82% of these locations, there was a rise in the number of new rental listings.
Regional rises
Worcester saw the greatest rise in new rental listings, seeing a surge of almost 48.9% during the last month. Chelmsford saw an increase of 38%, Stevenage 36.4% and Southport 34.4%.
Of the major towns and cities, London saw a 9.1% rise in new property listings during April. Birmingham saw the greatest rise of the larger cities, recording an increase of 20.7%. In Manchester, there was a rise of 14.3%.
The table below indicates the towns and cities in Britain that experienced the largest rise in new rental listings in April:
| Town/City | Region | % increase in new rental property listings |
| Worcester | West Midlands | 48.9% |
| Chelmsford | East | 38.0% |
| Stevenage | South East | 36.4% |
| Southport | North West | 34.4% |
| Telford | West Midlands | 32.3% |
| Cheltenham | South West | 30.3% |
| Watford | East | 29.4% |
| Bath | South West | 29.3% |
| Newport | Wales | 27.0% |
| Woking | South East | 26.8% |
| Gloucester | South West | 26.4% |
| Milton Keynes | South East | 24.7% |
| Oxford | South East | 24.5% |
| Oldham | North West | 23.3% |
| St Helens | North West | 22.5% |
New rental listings rise by 11.5% in April
Boost
Dan Gandesha, CEO of Property Partner, noted, ‘the rental market experienced a much-needed boost in April. Unfortunately, this was created by investor frenzy to beat the stamp duty hike and supply is unlikely to continue on an upward trajectory.’[1]
‘If anything, options for tenants could become more limited in the next couple of months as traditional landlords balk at the prospect of paying the surcharge now and losing mortgage interest tax relief from next year. There is still strong tenant demand but the Government has changed the traditional buy-to-let landscape and this will have ramifications for the rental market longer term. That demand will increasingly have to be met by professional landlords like Property Partner, offering tenants a better product and investors a better deal,’ Gandesha concluded.[1]