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Record figures as another market snapshot shows booming rents

For the second month running the number of prospective tenants registered per lettings agency branch has shown a big jump,

Data from ARLA Propertymarkert shows the average number of new prospective tenants registered per branch jumped in August to 107, from July’s figure of 102. This is the highest figure ever recorded for the second month running and surpasses last month’s previous record, when the number of prospective tenants registered per branch was 102.

Prior to this the all-time record was during  August 2020 when the figure stood at 101.


 Meanwhile the number of tenants experiencing rent increases jumped significantly for the second month in a row in August, as 79 per cent of agents saw landlords increasing rents compared to 71 per cent in July.

This is the highest rate increase on record, beating the previous record of 68 per cent in May this year for a second month running.

In terms of supply, the number of properties managed per letting agent branch decreased from 204 in July to 196 in August. This remains in line with the previous month’s figure of 184 during June this year.

Year-on-year this is slightly less than during August last year when the figure stood at 208.

Regionally, Scotland had the highest number of properties managed per letting agent branch with a figure of 251. However, rental stock was the lowest in London with an average of just 126  properties managed per branch.

And the number of tenants successfully negotiating rent reductions decreased from 1.1 per cent in July to 0.4 per cent in August. This is the lowest number recorded during the month of August since records began.

Propertymark’s chief executive Nathan Emerson comments: “The continued increase in demand from tenants, coupled with the decreasing amount of rental stock available  means we are seeing a worrying increase in rent prices for the second month running. The private rented sector provides homes for approximately five million UK households and it is vital the service being provided by landlords is recognised. With the increasing pressure, more landlords need to be incentivised into the sector.

“We look forward to meeting the newly appointed Secretary of State and his team over the coming months to ensure keeping the rent flowing is high on the Department’s agenda going forward, and we have a close eye on the overall sector for the rest of the year as the growing concerns over house buyers jumping ship from the buying and selling market is bound to put extra pressure on the private rental sector.”

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  • George Dawes

    Booming rents , that's assuming you can actually get the rent without the government introducing more ridiculous covid measures of course

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    I believe we are beginning to see the start of a major housing crisis. LLs are beginning to leave the PRS and the shortage of stock is resulting in higher rents. The LL exodus is set to continue and will be in flood by the time EPC C hits, at which point those left in the market will be able to charge what they want & thousands of tenants will be left out in the cold. This will give opportunities to unscrupulous LLs to rent substandard & unsafe properties and we will have a huge underbelly of illegal housing.

    So well done all the agencies who are attacking the PRS in the name of tenants - this will be the result of all your hard work!


    Totally agree re crisis caused by this EPC madness. Smart landlords selling off their stock that will never achieve C, often to unsuspecting newbies that are unaware of what's going to hit them. Totally foreseeable situation; unfortunately the numpties running the show are completely blind to it all. Interesting times ahead!


    When you read stuff like this on informed forums, it makes you wonder ...
    "Latest surveys show that only 2% of homes currently have A and B EPC rating, with approximately around 85 per cent having either C or D rating. Of the 4.5 million private rented homes in the UK, it is estimated that 1.7 million properties will never achieve an EPC rating of C or higher. "
    1.7 million properties!!!! That's one heck of a queue at the Council Housing Office !!

  • George Dawes

    Looks like that’s the endgame , you’ll own nothing

    Renting everything and owning nothing , reminds me of iTunes


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