Mildenhall estate agent on 'strangled' rental market

Robert Lewis, managing partner at Balmforth Estate Agents in Mildenhall, said there is growing demand for rental properties at the lower end of the market in the area but also a worrying lack of supply.

He said the influx of USAF personnel looking to find a home to rent around Mildenhall and Lakenheath, as well as a lack of affordable new builds, is partly the cause of the issue.

Robert Lewis, managing partner at Balmforth Estate Agents in Mildenhall (Image: Balmforth Estate Agents)

"One of the underlying issues that has been in place in this area for a while is that because American tenants get such high allowances and make for good tenants, if you are investing in rental properties in the area you will invest in somewhere to cater for those American tenants," he said. 

"Various government policies, as well as a lack of new house building have strangled the supply at the lower end of the market. 

"Every day we'll get three or four email enquiries, three or four phone calls, three or four visits from people looking for a three-bedroom house for their family, something at seven or eight hundred pounds a month, and we have nothing.

Mr Lewis said demand is outweighing supply in the area (Image: PA)

"If I search Mildenhall on Rightmove and put 'under 900' which is what lots of lower income families would want, no properties are available," he added. 

Mr Lewis said planning rules and costs make projects less appealing for developers, while interest rate increases make it harder for buyers and stamp duty deters some landlords. 

He added that he is worried for the impact the lack of housing options could have on the future of the area and its businesses. 

"It could have very significant knock-on effects for employers looking to employ because there is no where for people to live," he said.

"There is just a massive, massive shortage of properties and no end in sight, that is the worrying thing."