The average number of new prospective tenants registered per estate agency branch increased to 107 in August, up from July’s figure of 102, according to the latest figures from ARLA Propertymark.
This is the highest figure ever recorded, breaking last month’s previous record.
The data also shows that the number of tenants experiencing rent increases jumped significantly for the second month in a row in August, as 79% of agents saw landlords increasing rents compared to 71% a month earlier.
This is the highest rate increase on record, beating the previous record of 68% in May this year for a second month running.
Regionally, Scotland had the highest number of properties managed per letting agent branch with a figure of 251. However, rental stock was the lowest in London with an average of just 126 properties managed per branch.
Propertymark’s CEO Nathan Emerson commented: “The continued increase in demand from tenants, coupled with the decreasing amount of rental stock available means we are seeing a worrying increase in rent prices for the second month running. The private rented sector provides homes for approximately five million UK households and it is vital the service being provided by landlords is recognised. With the increasing pressure, more landlords need to be incentivised into the sector.
“We look forward to meeting the newly appointed Secretary of State and his team over the coming months to ensure keeping the rent flowing is high on the Department’s agenda going forward, and we have a close eye on the overall sector for the rest of the year as the growing concerns over house buyers jumping ship from the buying and selling market is bound to put extra pressure on the private rental sector.”
Comments (7)
I’ve almost given up trying to fight the govt and the charities on this. They wanted landlords gone, refused to accept that this would be the result, and now their idiotic and predictable chickens are coming home to roost. Reap what you sow. They wanted this, now they’ve got it. Tough.
Rising registrations is not rocket science. Available stock is the key factor. Take it away, tenants are not moving in and the list grows. It is about to get even worse and has nothing to with refugees who will add to the problem.
No building to keep pace with demand and no incentive for landlords to remain.
Renters groups only represent the Rogues and everything they’ve pushed for that Govt had caved-in to has led to more difficult environment for the vast majority of honest Tenants.
Government and local authorities have been landlord bashing for a number of years now, encouraged by so called housing charities that house no one and only attack landlords have pushed and driven the reduction in people prepared to accept the anti landlord messaging. They are starting to reap that which they have sown. The sad thing is that the public largely backed the media propoganda and will only realise once they find their rents rise as supply falls and demand increases. The people that suffer most are the ones in the poorest positions. Yes there are bad landlords but there are also some appalling tenants in the same way there are some excellent companies but also a load of scammers – it is the way of the world. The purple Parliament (left wing conservatives) pander to tenants to get their votes which buys their power. Shallow politics. As sales property supply falls and prices rise dissatisfied landlords (bruised and bashed over several years) will see it as an ideal time to sell up in the knowledge progressive landlord bashing is on the menu (the soon to be introduced loss of S21 for example) and WILL continue. They have been well and truely shafted by government throughout the pandemic and a court system that does not work for their situation. Landlords were even charged council tax on vacant property when the Government prevented them from letting/viewing property during the start of the pandemic – so not just losing rent but be taxed for it as well, as the Valuation Tribunal ensured council continued to get their income. The incoming people of Afghanistan and Hong Kong will add to the shortage which is legal immigation and then add a few thousand keen rowers who prefer the illegal approach and where will they live? The needy lower earning people of the UK have even more competition for housing. Government policy is not working and the other political parties have pollicies that would make it even worse.
No just conservatives, you have the conservative haters in SNP Scotland and Labour in Wales and both of them are worse than anything England has.
Yes Shelter causing homelessness is ultimately good for their funding. So they need to keep the numbers rising.
Good for EA’s not so good for LA’s.
The situation is only going to get worse for tenants esprcially if the Government presses on with its plan to abolish Sec.21 Notices as Shelter, Generation Rent, Acorn et al. who purport to tenants, continue to lobby Government to do. But of course they would, as without homelessness their raison d’etre evaporates, its more these organisations protecting their 6-figures fat-cat salaries than helping tenants.