Rental supply hits record high for 2018, but agents are scrambling for tenants to fill properties

Supply of rental properties has hit its highest level so far this year, but fewer tenants seem to be searching, say letting agents.

The May Private Rented Sector Report from ARLA Propertymark shows that letting agents had an average of 186 properties per branch last month, up from 179 in April and the highest figure for 2018.

However, demand also fell to a new low of an average of 60 prospective tenants per branch, the lowest figure since last December when 59 registrations were recorded.

There was also bad news for existing tenants, with 28% experiencing rent hikes, up from 26% in April and the highest level since August 2017 when 35% of landlords put rents up.

David Cox, chief executive of ARLA Propertymark, said: “There’s a chronic supply shortage in the rental market at the moment, and while it’s positive that the number of properties available to rent seems to be rising, this is just a drop in the ocean – it isn’t nearly enough to fix the market for tenants.

“Competition is getting more and more fierce, and with legislative changes hitting landlords from all sides, the cost of renting is only increasing.”


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  1. AlexSully79

    Are people experiencing this? Is it struggling for leads? Or struggling for leads that turn in to deals?

  2. Estate_Agent_Memes

    We are desperate for rental properties and always have multiple applications on 90% of our properties!?? This will get worse as more landlords sell up due to the ridiculous mortgage interest relief changes.


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