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Tuesday, February 03, 2015

Rental voids near a low

Paragon's latest survey of landlords showed a decline in rental voids.

The Q4 2014 Paragon survey recorded the average rental void as 2.6 weeks. This compares with 2.8 weeks recorded in their Q4 2013 survey. 

The survey data  compares to the all time lowest rate of 2.5 weeks, recorded back in Q4 2002.

The highest average rental void recorded by Paragon's survey was the 3.5 weeks of Q2 2010.

John Heron, managing director of Paragon Mortgages, commented

‘The low average void periods we have seen over the past year, and in previous years, reflects the strong and growing demand we have seen for private rented property together with effective property management by landlords and letting agents in renting out properties,’ he added.

‘This is positive news for landlords and, as tenant demand continues to rise, it is possible that void periods may decrease even further in 2015.’ 

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