A prominent regional lettings agent says he’s expecting a “significant shift” in the market this autumn.

Matt Nicol, managing director of Nicol & Co – with offices across Worcestershire – says the market has already shifted following the introduction of the Renters Rights Act.

“Available rental stock is reducing as landlords navigate the new legislative landscape, and tenant demand is holding firm, a combination that continues to put upward pressure on rents.”

But he says the autumn will see things get more extreme. 

“Landlords who have decided to exit the market in response to the new rules are in many cases required to serve four months’ notice on existing tenants.

“This means a substantial wave of rental stock could move to market from September onwards, reducing supply further and accelerating rent rises.

“This is precisely the unintended consequence the government failed to anticipate when framing the legislation, and for tenants the outlook is challenging.

“For investors, however, the fundamentals are increasingly compelling. Falling supply, rising rents and motivated vendors add up to a genuinely attractive entry point.”