Three in ten (32%) ARLA letting agents reported that rents increased in April.

With Labour’s rent cap proposals no longer a prospect, eight in ten (79%) ARLA agents have predicted that rents will increase over the next five years.

ARLA also says the number of landlords selling their buy-to-let properties has increased, particularly in London. ARLA agents in London saw the number of landlords selling their buy-to-let properties double between March and April, rising from three to six properties on average per branch.

The national average increased from three to four buy-to-let properties being put up for sale on average per branch.

David Cox, ARLA managing director, said: “It is interesting that we have seen an increase in the amount of landlords selling their buy-to-let properties in the last month, which is likely to have been a result of political uncertainty.

“We know that Labour’s plans within the PRS were unpopular for many landlords and agents, so this increase in those selling their buy-to-let properties may have been a knee-jerk reaction to the possibility of Labour’s proposals coming in.”

In April, ARLA member branches managed an average of 193 properties.