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Index shows rise in supply of properties to rent in Britain

The number of properties available to let in the private rented sector in Britain increased by 24.2% in October and there was an 8.1% rise in homes let, the latest index shows.

All 12 regions covered by the Agency Express property activity index saw rental listings rise while 11 of them recorded an increase in the number of homes available to rent.

The biggest rise in supply was in the North East with a rise of 66.8%, followed by Yorkshire and Humberside at 45.1%, Wales up 36.4%, Scotland up 36.2%, the South East up 23.6% and the North East up 21%.

In terms of properties available to let, there was a 27.9% increase in London, a rise of 16.4% in East Anglia, the South West up 13.6%, the North East up 12.3%, the West Midlands up 11.1% and Wales up 10.2%.

The only region to record a decline was the East Midlands where the number of properties for rent fell by 8%, the second month in a row that the region saw a fall, however, year on year there was a rise.

Stephen Watson, managing director of Agency Express, pointed out that the lettings market usually sees a slowdown in the month of October but this year that has not happened.

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