15% rise in Tenancy Demand for property.

Tenant demand rose an additional 15% in the second quarter this year compared to the same period in 2010, according to Countrywide Estate agents.

The Group found that despite marginal increases in new rental units coming on the market, demand continues to outstrip supply, with an average of five tenants competing for each available rental property.

Such Strong demand has driven tenants to take up properties in the high average of 13.3 days.

Nationally, properties with more than three rooms bedrooms now account for 41% of all rental properties, compared with less than a third of properties in the second quarter last year (32%), suggesting multiple vendors are looking to family let out their unsold houses.

A spokesman at Countrywide, said: "The latest results give an interesting overview of recent developments in the landscape in which the rental demand and supply has been affected by a soft sales market. Feedback from our subsidiaries shows that many successful sellers have chosen to" pass, on selling their property at this time and choosing to Let out there property, enabling them to Let to Move’

"While future movements in house prices remains uncertain, following the failure of the buyer and seller expectations, we anticipate landlords void periods to fall and expect high demand to continue. "The monitors are at record levels, and there is still an average of five tenants compete for each property available to rent, though, price location and condition of the property will no doubt continue to be important property remains a good investment for those wishing to take advantage of high tenant demand.

"Bristol Letting Agent Kevin Cox of Igloolets.com said “The Lettings market is busy throughout the city, to rent in Bristol, you now have to be very much on the case if you are a tenant who is looking. We are still finding that flats to rent in Bristol are in high demand, and the recent Harbour festival just reiterates what a great place Bristol is to live. The attractiveness of the city, just goes from strength to strength, overall property to rent in Bristol that is priced and presented right, is being snapped up often within 48 hours of being offered to the market”