The rental market rebounded in October with an 11.4% increase in new properties for rent, according to new data.

Figures from crowdfunding platform Property Partner show that two-thirds (66.3%) of the UK’s major towns and cities last month saw a positive growth of new listings of rental properties.

Using Rightmove listings, Property Partner identified data from 89 UK towns and cities during October and then compared it to the same period in September.

They found that Swansea, which suffered a drop in August of 3.81%, had a reversal of fortunes last month with a 210.9% leap from 101 new buy-to-let properties in September to 314 in October.

Three other cities also experienced a three-figure bounce-back.

Newcastle-upon-Tyne, Sheffield and Leicester saw supply rocket 194%, 134.6% and 125.4% respectively.

In contrast, new rental stock in London fell 3%.

Dan Gandesha, chief executive of Property Partner, said: “Many traditional landlords, though, will be feeling the pinch and perhaps doubting if it’s worth the hassle, particularly in the South-East. If significant numbers of investors start selling up, then rental supply could be negatively affected.

“By the New Year we should have a better indication of how buy-to-let investor confidence is faring after the uncertainty of this year, but in the short term, October’s buoyant figures are encouraging.”

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