The number of properties available to rent has reached an all time low, according to one industry body.

Recent figures from the Association of Residential Letting Agents (ARLA) found that 70 per cent of their members are now reporting that there more people looking for homes than there are available.

This marks an increase on the 59 per cent of landlords who stated this was the case in the first quarter of the year.

For vendors in the south east the situation is particularly difficult, with 76 per cent not having enough homes to keep up with the pace in demand.

Ian Potter, operations manager of ARLA, said: "The spring period would usually see a rise in rental properties coming onto the market, and although there is some evidence of landlords considering selling up, it is not enough."

The rise in demand for properties was recently noted by the National Association of Estate Agents, as there has been a rise in people looking for homes while available stock has fallen.

Written by Fiona Mayers

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