ARLA Propertymark has issued its September Private Rented Sector (PRS) Report, which found that the number of tenants experiencing rising rental prices decreased in September but remained high overall, with 58% of agents witnessing an increase in rent prices. Year-on-year, this figure is up from 31% in September 2018, and 27% in September 2017.
Regarding rental supply, the number of properties managed per branch fell to 193 in September, from 197 in August. Year-on-year supply is down from 194 in September 2018, but up from 189 in September 2017. Meanwhile, in September, the number of landlords exiting the market remained at four per branch.
David Cox, ARLA Propertymark chief executive, said:“While the number of tenants experiencing an increase in rent has dropped marginally, rent prices remain alarmingly high as they have done since the Tenant Fees Act came into effect.
“With the possibility of a general election approaching, we hope that the Government recognises the importance of increasing supply for tenants and uses it as an opportunity to make the market more attractive for landlords.”