According to Experian, 58,000 properties were marketed to rent in 2011 compared to 2010. By contrast, the number of properties for sale dropped by 12,000 in 2011.
Experian said a number of seasonal trends were prevalent in both the rental and re-sale markets with December the least popular time to market a property and the summer months the most common.
May was the busiest month for resale properties added to the market whilst August was most active for rentals, which Experian said could be attributed to students preparing for a new term at university.
For the year as a whole, the number of resale properties at 769,077 exceeded those rental at 692,766.
Jonathan Westley, managing director of Consumer Information Services at Experian UK & Ireland, said: “This insight shows that homeowners may be using renting as a back-up plan if they are unable to sell or alternatively some may still consider property a long-term investment.”
Experian found that London dominated the rental market with 20% of all UK rentals being based in the Capital. However, this dropped when it came to houses for sale with London accounting for 10% of appointments.
The South West had the highest percentage of ‘for sale’ properties at 12.2%.
Wales and the West Midlands saw the biggest increase in houses-to-let with a 20% rise in numbers in 2011 compared to 2010.
