18
Dec
Oversupply hitting rental demand for flats
An oversupply of flats in the UK housing market has hit demand for
the properties, it has been claimed.
According to figures from the Royal Institution of Chartered
Surveyors (Rics), demand for flats has dipped in the three months
to October.
This was born out, Rics said, by the fact that the number of
surveyors who reported a rise in demand among those seeking flats
for rent dipped to 17 per cent.
During the previous quarter the figure stood at 27 per cent.
The knock-on effect of this is that in line with falling demand,
rental yields on flats fell for the fifth consecutive
quarter.
News of the findings comes as the National Housing Federation (NHF)
called for fewer flats and more family-sized homes to be built to
address the paucity of housing available for families.
The NHL claims that in the third quarter flats accounted for 51 per
cent of housing under development in the UK.
