Posted 12/2/2023, 1:11:00 PM
Migrant Surge Strains UK Rental Market
- Record high migration to UK is putting pressure on rental housing market as migrants initially rely on rentals
- Surging demand coinciding with landlords leaving rental market, constraining supply and pushing up rents
- Students comprise a significant share of migrants, overflowing from purpose-built dorms into private rentals
- Previous rental rate drops in London partly attributed to lower migration rates during Covid
- Regulatory and tax changes have reduced buy-to-let investments, limiting new supply amid rising demand