Vacancy Survey 2021 Q2

Nationally, Vacancy Rates have stabilised at 13.15%, a Demand Rating at 53.01 confirms that tenants are still in the market but in reduced numbers, and a Supply Rating of 68.76 means that landlords are competing for this limited tenant attention. Landlords have a more pessimistic perception of the market than Estate Agents. They reported a weaker view of demand at 51.50 and perceived a strong Supply Rating of 73.32. No doubt driven by fewer tenants responding to their property adverts, in some instances landlords report zero interest in the property until the price is dropped and re-advertised. Perception aside, the Vacancy Rate reality reported by landlords is a high 14.29%. This begs the question, did landlords react slower to reducing their rent in the current climate and so bear the bigger brunt of overall vacancies?