The latest market data from the firm found that there has been a sharp uplift in tenant demand for rental properties across the UK’s major cities.
Demand for rental homes now sits at 37.6% for the first quarter of the year, having climbed 10.4% since the final quarter of last year.
Of all major cities Birmingham has seen the biggest increase in rental demand in 2021 with a 25.2% uplift in demand for rental homes and 46.7% of all properties on the market being snapped up by tenants.
Bournemouth has also seen a considerable increase, up 23.3% between Q1 of this year and the final quarter of 2020.
Cardiff (18.6%), Southampton (16.8%) and Newport (16.4%) also rank within the top five largest increases in rental demand.
Just Liverpool and Belfast have seen rental demand drop during the first quarter of this year, down 2.3% and 15.8% respectively
James Forrester, managing director of Barrows and Forrester, said: “It’s been a very tough year for landlords and many have seen their rental income reduce due to tenants falling on tough financial times, while others have struggled to find a tenant in the first place.
“As a result, early signs of rental demand returning to the market will be very welcome indeed and, as we ease out of lockdown, this is a trend we will hopefully see increase throughout the remainder of the year.
“The green light for some university students to return and the fast-approaching start of a new academic year should further boost this initial increase in demand and so things are certainly starting to look up for the UK rental sector.”
