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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