The data reveled that this was the second consecutive month of positive growth – rising by an average of 6.8%.
However, this pattern was not repeated in the capital, with London suffering a further dip in new rental listings of -1.2%, following a 3% fall in October.
The study identified 89 UK towns and cities, analysing the number of new rental properties being advertised* between 1st – 28th November, and then compared the figures to the same period in October. Bristol experienced a staggering rise of new buy-to-lets being listed - a 162.7% increase from 1,329 new rental properties in October to 3,492 in November.
Three other cities also recorded a triple-digit boost in new buy-to-let properties coming on to the market. Southampton, Portsmouth and Huddersfield saw supply rocket by 108.2%, 102.8% and 101% respectively.
But it was not all good news, with significant falls in the number of new buy-to-let properties in towns and cities in the North and East Midlands. Derby suffered a drop of more than 33% with only 123 new rentals coming onto the market in November.
Similarly, more than half (18) of London’s boroughs saw falls in new rentals. Kingston upon Thames experienced a 12% drop with Barking and Dagenham (-10.7%), Kensington and Chelsea (-10.4%), Merton (-10.39%), Camden (-10.4%) and Redbridge (-10.2%) seeing double-digit decreases.
Dan Gandesha, Founder and CEO of Property Partner, comments: "It has been another encouraging month for prospective tenants on the hunt for new rental properties. Both October and November saw consecutive increases in the supply of new listings, somewhat silencing any murmurings that we were in for an era of depressed rental supply. In some towns and cities it even appears to be a renters’ market.
While many aspire to own, the demand for rental accommodation is set to grow, with increasing numbers choosing to rent due to a lack of affordable housing for potential buyers. With the private rental sector almost doubling in the past decade, and one in five households in England now in private rented accommodation, it’s vital to ensure good quality homes which are professionally managed.
But the flipside is that many landlords are feeling the financial squeeze due to recent tax changes and stricter lending criteria. Imminent cuts in mortgage interest tax relief may just make it impossible to make ends meet, particularly in London and the South East, resulting in many buy-to-lets being sold and a knock-on effect of reduced rental supply in the future.”
