Connells-owned Sequence has said it will be the fastest growing letting agent in the UK this year.

It is planning to open 75 new lettings branches on top of the 65 opened last year.

It is understood that the new openings will be a mixture of lettings operations opening in existing sales offices, cold starts and acquisitions. Eye understands that immediate targets of the roll-out include London, Brighton, Birmingham, Yeovil, and Warrington.

The firm is reporting that the number of new tenancies last year rose by 18%, while demand in London went up by 50%.

It said that nationally, annual rents stood at £705 when the year ended, and in London at £1,504.

Stephen Nation, head of lettings for Sequence, said supply had been unable to keep up with demand and that the private rented sector was continuing to grow.