Demand for rented property remain solid

The results of the quarterly survey carried out by the specialist buy-to-let lender also revealed that just 7% of landlords thought that during Q1 tenant demand declined and 46% said that levels remained stable.

Professional landlords were more likely than smaller-scale landlords to think that demand was growing – 46% compared to 37%.

The survey also asked landlords to comment on expectations of demand levels in the next 12 months, more than half (53%) said they believe demand will continue to grow and 36% said that it will stabilise.

Landlords were also asked about the most prolific tenant types they let to across their portfolio. The most popular household type were young singles with 35% of landlords letting to them, this was followed by young couples (24%) and families with children (24%).

Nigel Terrington, Chief Executive of Paragon Group, said:

“Levels of tenant demand have for the most part remained steady throughout the first quarter of the year. This shows the continuing importance of the private rented sector as the tenure of choice for many people.”