Supply still outstripped demand for rental accommodation in the last quarter, says specialised credit agency TPN.
Western Cape vacancies were sharply down, though, and lack of property development in the Eastern Cape means too few places to rent.In the fourth quarter of 2021, tenants had the upper hand in South Africa on average, specialist credit bureau TPN says. But not everywhere, and even that national average is moving in favour of landlords again.. At 50, supply and demand is in equilibrium, and anything below that indicates landlords struggling to fill up rental accommodation.
Demand was hit on two sides, TPN says. Travel bans in December, and the resultant drop in international travellers, saw landlords switch short-term holiday rentals back to long-term rentals, while the July unrest and associated job losses meant domestic demand for rentals declined. In Gauteng there is money; rental demand is back to pre-pandemic levels, TPN says. But there is also a significant over-supply of rental accommodation.
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