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Residential rental market stabilising, says Arla

The residential rental market is beginning to stabilise with property oversupply decreasing across the UK, according to the Association of Residential Letting Agents.

The latest Arla survey of its members show that the historical decline in numbers of tenants, which led to a surplus of properties to rent, is coming to an end with 83 per cent of members signing up 10 or more tenancies during the last quarter compared to 79 per cent last quarter.

Each member signed up an average of 36 new tenancies, compared with 32.6 last quarter.

Arla operations manager Ian Potter says: “This shift in the balance of supply and demand is extremely significant for the private rented sector. It gives further evidence to suggest that the property market as a whole is getting back on its feet.

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