The latest research by Zero Deposit, the tenancy deposit alternative, has revealed that London remains the most competitive region for letting agents, having seen the largest increase in the number of residential letting agents in the last year, while London letting agents also have the highest average number of current rental listings on the books versus every other region of Britain.
Zero Deposit analysed the number of residential letting agents across each region of Britain, before looking at current rental market stock levels in each region, to determine where letting agents are having the busiest start to 2024 when it comes to available rental market stock.
The research shows that there are some 24,237 residential letting agents operating across Britain today. This number has increased by 3% year on year, with 601 more letting agents operating across the market versus January last year.
With 132,723 rental properties currently listed for rent, that equates to an average of five available properties per letting agent.
London, along with Wales, has seen the largest increase in letting agent numbers, up 4% year on year. However, this 4% increase is far greater in the capital, where it equates to an additional 232 letting agents, versus an increase of just 36 in Wales.