In August, letting agents had 37 prospective tenants registered on average per branch – the highest number since June 2016, when there were also an average of 37 tenants per branch, according to the Association of Residential Letting Agents (ARLA).

During the first half of this year, there were signs that demand was cooling off, as each month figures were down year on year from 2015, however over the last three months, demand has been up year on year.

The number of rental properties on letting agents’ books stood at 183 in August, down marginally from July when there were an average of 184 properties managed per branch. However, year on year supply was up by 3%; last August, agents managed 178 properties on average.

The number of tenants negotiating rent reductions rose in August to the highest levels seen since records began at the start of last year. ARLA members reported that 3% of tenants secured a rent reduction last month, compared to 2.1% in July.

In August just over half of ARLA members (51%) reported some signs of uncertainty from either those looking to rent or those looking to let a property following Brexit. However, this has had very little real impact on the rental market; in August the majority of members reported no change in rent prices, supply of available properties, or demand from prospective tenants following Brexit.