Renters Face Fierce Competition as Listing Times Shrink
High Demand and Low Supply Lead to Shorter Rental Listings
The rental market is experiencing intense competition as the average listing time for two-bedroom rental homes on Zoopla has decreased to 25 days, 10 days less than the pre-pandemic average, according to Savills estate agency.
High demand and a lack of available properties are forcing potential tenants to make quick decisions.
Adrian Draude, who recently secured a rental in Guildford, Surrey, described the process as aggravating due to listings disappearing quickly.
Rising rents and high house prices have driven many young adults, including 3.6 million people aged 20 to 34, to live with their parents.
This trend is further complicated by the increasing need for guarantors, often parents or close relatives, to secure tenancies.
Cait Sullivan and Lily Jones, both living with their parents, found nearly every viewing required a guarantor, highlighting the challenges faced by prospective tenants.
High demand and a lack of available properties are forcing potential tenants to make quick decisions.
Adrian Draude, who recently secured a rental in Guildford, Surrey, described the process as aggravating due to listings disappearing quickly.
Rising rents and high house prices have driven many young adults, including 3.6 million people aged 20 to 34, to live with their parents.
This trend is further complicated by the increasing need for guarantors, often parents or close relatives, to secure tenancies.
Cait Sullivan and Lily Jones, both living with their parents, found nearly every viewing required a guarantor, highlighting the challenges faced by prospective tenants.