The search for rental housing in the UK has reached alarming levels within the last year, with a surprising increase in demand.

According to data from Rightmove (an online real estate platform), the average queue of tenants interested in real estate visits jumped from 20 to 25 in a short period of five months. This represents a notable disparity between supply and demand, leaving real estate agents baffled by the situation.

In 2019, the average number of requests to visit a rental property was just six. However, by the spring of this year, that number had already skyrocketed to 20, and after another five months, it reached 25 – which generates a lot of competition among parties interested in leasing a particular property.

Average rental prices are also on the rise, having reached a record £1,278 per month outside of London (in the rest of England), which is a 10% increase compared to the previous year. In London, the average value reached £2,627 per month, an increase of 12%.

The high demand and consequent shortage of rental housing is leading renters to adopt extreme measures, such as offering a year's rent in advance to secure a property (a very common practice for those who have just moved here and do not have the "famous" financial track record). And often a real ‘auction’ ends up happening between interested parties when a good property enters the market.

The situation is described as 'madness' by real estate agents. Not only is the search for a new property difficult and costly, but renters have also been facing rent increases on properties of questionable quality, creating a significant challenge for those seeking housing in the UK, particularly those just arriving here.

A relocation abroad brings so many demands such as understanding which area of the city would best accommodate the needs of a family/couple; planning the best commute between schools/ office and a potential property; understanding the bureaucratic and legal demands of the UK rental process, and still having to participate in an extremely dynamic and competitive property market can be stressful. The help of a relocation agency can be crucial at this time, with detailed knowledge of the city and experience of how to navigate the real estate market. If you're moving to London and need our support, the Home to Home team is on hand.