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Landlords report higher vacancies than estate agents

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Landlords have a more pessimistic perception of the market. They reported a weaker view of demand at 51.50 and perceived a strong Supply Rating of 73.32. This is 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 and so bear the bigger brunt of overall vacancies?

Estate agents have the benefit of foot traffic through their shop, or many adverts for a variety of properties to entice the reduced number of tenants. As a result, the estate agent’s perception of the market strength indicates slightly more tenant demand than landlords perceive.

Estate agents also perceive the supply of rental properties to be strong at 63.31 but not as overstocked as the landlord’s perception of 73.32 – this may be an impact of the estate agent property stock supply which is created by landlords farming out their tenant procurement to multiple agents at the same time. Nonetheless, estate agents seem to have better occupancy with only 9.87% Vacancy Rate.

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