State of the Market Q1 2023
TDS has released its first quarterly briefing on the state of the market.
In the news we regularly hear stories about the rising cost of renting and reductions in supply because landlords are leaving the market. But what does the data tell us?
TDS has produced the first of its regular quarterly briefings on affordability and supply issues in the private rented sector. The briefing draws together data from a range of surveys and other statistics. It includes some data from TDS’ award-winning custodial deposit protection scheme.
Data suggests that:
Rents are continuing to increase, but at a slightly slower rate. For new tenancies rents have continued to increase quite substantially. For existing tenancies, rents have remained more stable.
Reductions in supply seem to have stabilised recently. However, demand has continued to increase. This means there is a mismatch between supply and demand. This is partly what will push up the cost of renting.
Each briefing will include a short critical commentary on the data which is available and what it tells us about the sector and the ways in which it is changing. In this briefing we discuss:
How reliable are sector-based rents data?
Are landlords leaving the sector due to more regulation?