Supply of rental properties has hit the highest level so far this year, letting agents claim.

The latest ARLA Propetymark Private Rented Sector Report for June shows the number of rental properties letting agents managed rose last month, with 191 on average per branch

This is the highest figure recorded so far this year and up from a previous high of 186 in May.

Despite choice increasing, more current tenants also saw rent rises.

The number of tenants experiencing rent hikes rose to 35% in June, up from 28% in May, according to ARLA Propertymark.

This is the highest level since last August when 35% of landlords also increased rents for tenants.

The report also found that demand from tenants increased from 60 to 71 per branch between May and June, while the number of landlords exiting the market decreased to 4%.

David Cox, chief executive of ARLA Propertymark, said: “It’s positive to see the number of properties available to rent slowly rising but it still isn’t anywhere near enough to slow down the pace of rent rises, which are continuing to climb.

“Over the past few years, we’ve seen taxes to both purchase and let a rental property increase. This combination – coupled with continued regulatory change –has unsurprisingly started pushing landlords out of the market.

“We predicted back at the end of last year that renters would be in for a rough ride in 2018, and we warned Government about the impact on the market.

“Our fears are now being realised and renters are suffering as a result.”