The current cost of living crisis and expected rise in interest rates has caused many letting agents, landlords and renters to be concerned. Many fear that the recent changes are driving up the cost of rent for tenants, and that there is not enough accommodation available to meet the growing demand as more landlords consider selling their properties once the tenants' lease ends.
When asked his thoughts on the current amount of properties for rent, Oliver Reilly, director of Oliver Reilly Estate Agents in Newark, explained he felt there was a shortage. He said: "I don't think there's enough supply and I don't think there ever has been with the supply that we have had.
"We have had this influx of sellable units and people fighting for properties and now it's quietened down to where it was around 18 months to two years ago. I wouldn't say locally that prices are too high when you compare it to other areas, such as certain parts of Lincolnshire, and a lot of people are moving to the area from other areas."
