ARLA says that last month’s Brexit result has not rocked the rental market – yet.

In its survey for June ARLA members reported the market as stable during the month.

However, since the result almost half (45%) of letting agents said they saw uncertainty from landlords.

David Cox, ARLA managing director, said: “What we need is some certainty from the new Government that housing remains a priority with the rental market playing a central role.

“For example, we want to avoid a situation where institutional investors start pulling away from the market because ultimately this will impact tenants by squeezing supply further and pushing up rents.”

Month on month, demand for rental accommodation was up in June, as was the number of properties managed on letting agents’ books.

There were 37 prospective tenants on average registered per ARLA member branch in June, up 12% from 33 in May.

The supply of rental properties rose by 3% in June, from 171 in May to 176 properties.