A lettings industry figure has let rip at politicians pitching for votes at next month’s General Election.

HomeLet and Let Alliance chief executive Andy Halstead says: “The politicians focus on attempting to win votes with blatant untruths. This government has not supported our sector and I suspect the next government will be equally unhelpful. 

“Professional letting agents make the best of a difficult situation. However, it is no wonder we are seeing record levels of letting agent consolidation, and landlords considering alternative investment options.”

UK rental growth slowed to a modest +0.2% increase from April to May, according to the latest HomeLet index. 

However, despite falling rental prices across several UK regions, industry experts warn that it’s “business as usual” for the Private Rented Sector, with demand “out of control” and rents “unaffordable” for many.

In what HomeLet calls “a rare glimmer of hope for the rental sector” rents decreased in the North East (-1.6%), South West (-1.4%), Greater London (-1.3%), and Yorkshire and Humberside (-0.5%). Furthermore, rental growth slowed to +6.9% across the country, reaching its lowest rate since August 2021. 

However, HomeLet’s experts warn that it is far too early to talk of green shoots of change. Especially with a General Election looming on the horizon and average UK rents reaching an all-time high of £1,297 per month.

The full breakdown of rent increases, variances and rent-to-income ratios can be found on the HomeLet website