ARLA Propertymark has issued its November Private Rented Sector (PRS) report, which found that the average number of new prospective tenants registered per branch rose in November to 82, up from October’s figure of 71.
Regionally, the East Midlands had the highest number of new tenants registered per branch with an average of 134. This number was lowest in Wales where there was only an average of 26 new prospective tenants registered in November.
The number of tenants experiencing rent increases fell for a third month in November, as 58% of agents saw landlords increasing rents compared to 68% in October. This is the lowest rate increase since February, where rent increases stood at 49%.
The number of properties managed per letting agent branch increased from 196 in October to 212 in November. Year-on-year this is slightly lower than during October last year when the figure stood at 214.
Regionally, Scotland had the highest number of properties managed per letting agent branch with a figure of 304. However, rental stock was the lowest in Wales with an average of 106 properties managed per branch.