Data collected from Propertymark’s members for its January Private Rented Sector Report shows a snapshot of pressure in the Welsh market. Welsh agents reported the highest overall figure of new applicants registering at an average of 313 per member branch but worryingly reported the highest number of landlords exiting the private rented sector at five per member branch. This is more than double the UK average of two. 

Factors such as high sale prices and the impending changes due to be introduced through the Renting Homes (Wales) Act could be contributing to this. 

Propertymark’s CEO Nathan Emerson commented: “Our latest report shows an unprecedented spike in new applicants registering per member branch with a 140 per cent increase in January compared to December. Setting this figure beside the small increase in the average number of new properties entering the market in January, there seems to be nowhere near enough private rented homes available. 

“Wales is seeing the greatest number of landlords exiting the sector and interestingly, this could come as no surprise to many agents and landlords. With several changes on the horizon from the implementation of the Renting Homes (Wales) Act, landlords in Wales will be faced with further regulatory pressure. Coupled with the extremely high demand within the sales market in areas across Wales, these could well be contributing to the number of landlords exiting the sector.”