Lettings agents report ‘record-breaking month’ as demand and supply hit new highs for June

June was a record month for tenant demand and rental supply as the market got back to business, agents claim.

The latest ARLA Propertymark Private Rented Sector report, based on a survey of 210 members, found there were 79 tenants registered on average per branch during June compared with 70 in May.

The number of properties managed per branched reached 200 on average.

These figures are both the highest on record for the month of June since ARLA Propertymark started recording the data in 2015.

The number of tenants experiencing rent rises increased in June, with 29% of agents witnessing landlords increasing rent compared with just 14% in May.

However, this is still the lowest number of rent increases for the month of June since 2016.

The average time properties were empty between tenancies decreased to four weeks in June from five weeks during May.

This is still the longest period on record properties have remained void between tenancies for the month of June, with a previously consistent figure of three weeks.

Phil Keddie, president of ARLA Propertymark, said: “Our latest figures show that the rental market is continuing to pick up following the Covid-19 lockdown.

“The record-breaking supply of rental stock and demand from tenants for this time of year paints an optimistic picture for the summer months, indicating that the market will be more active than the usual seasonal lull.

“As the market continues to recover from the pandemic, it’s essential that everyone continues to keep up with their rent in order to sustain the market and help boost the economy during these uncertain times.”

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