The number of tenants in the UK’s private rented sector experiencing rent rises increased to the highest figure on record in June, the latest report from letting agents show.
More than half, some 55%, of agents reported landlords increasing rents, up 22% compared with May, which was a previous record high, the report from the Association of Residential Letting Agents (ARLA) reveals.
Year on year, the number of tenants facing rent increases also increased, up from 31% in June 2017 and higher than the 35% recorded in June 2018 the data also shows.
Letting agents had an average of 199 properties under management per member branch in June, a decrease from 201 in May. Demand from prospective tenants also increased marginally in June, with the number of house hunters registered per branch rising to 70 on average, compared to 69 in May. Year on year, demand has fallen, from 71 house hunters registered per branch in June 2018.
The data also shows that in June, the number of landlords exiting the market remained at four per branch, unchanged from June 2018.