The April Private Rented Sector (PRS) Report from ARLA Propertymark has revealed that the average number of new prospective tenants registered per branch fell slightly in April to 82, from March’s figure of 84. Year-on-year this is still the highest figure on record for the month of April, with the previous April high being 72 prospective tenants registered per branch in 2018.
Regionally, Wales had the highest number of new tenants registered per branch with an average of 133. However, this number was lowest in Scotland where there was only an average of 26 new prospective tenants registered in April.
The number of tenants experiencing rent increases jumped in April, as 67% of agents saw landlords increasing rents, compared to 60% in March. Year-on-year this figure has more than doubled since April 2019 when the figure stood at 33%.
The number of properties managed per letting agent branch rose from 193 in March to 201 in April. Year-on-year this is marginally less than during April 2019 when the figure stood at 202.
Mark Hayward, chief policy advisor at Propertymark, said: “We continue to see unprecedented demand from tenants with a record breaking number of new prospective tenants registered per branch for the month of April, showcasing the booming rental market.”