It is unsurprising that rental stock levels in the UK fell in October, according to the director of residential research at Savills, Lucian Cook.

Accidental private landlords are much more likely to put their properties up for sale in the current climate, he explained.

Mr Cook's comments came after the FindaProperty.com Rental Index reported last week that the stock of rental properties dropped by 10.2 per cent in October - the largest decline since the index's inception.

The online property website's industry measurement tool also indicated that average monthly landlord rent levels grew by 0.1 per cent to £830 in October, although they were 3.8 per cent down year-on-year.

"Clearly what has happened is that the freehold market has picked up and we know that transaction levels have picked up in the freehold market [and] the sales market,"said Mr Cook.

He added that "we might be in a sweet spot in the market where you can achieve a decent price because of the lack of stock", which may be one reason why there has been a shift from people renting property out to them trying to sell it instead.

Written by John Weeks
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