Number of tenants experiencing rent hikes continues to increase

Number of tenants experiencing rent hikes continues to increase


Todays other news
There are some locations offering incentives to British investor buyers...
The market is strong ahead of the April stamp duty...
The PBSA analysis has been undertaken by Knight Frank...
The analysis has been done by Bond Wolfe...


The number of tenants experiencing rent increases continued to rise in September, according to ARLA Propertymark’s latest Private Rented Sector (PRS) report.

Nearly a third (31%) of renters witnessed their payments rise in September, compared to 27% in September 2017 and 24% in September 2016.

When it comes to shorter-term trends, though, this figure is down. In August this year, agents recorded a record high for the number of rent rises for tenants at 40%.

The research also revealed that demand from prospective tenants dropped very slightly in September, with the number of house hunters registered per branch falling to 63 on average, compared to 64 in August. This is down by 20% year on year, with some 79 prospective tenants being registered per letting branch in September 2017.

The supply of rental stock, meanwhile, dropped in September as landlords continued to leave the market, with the supply of properties managed by letting agents falling from 197 in August to 194 last month.

“Although the number of landlords increasing rents for tenants dropped in September, this figure is still alarmingly high, and it continues to rise year on year,” David Cox, ARLA Propertymark chief executive, said.

“Increasing costs and continued regulatory change is pushing buy-to-let (BTL) investors out of the market and deterring new ones from entering. An average of four landlords took their properties off the market per branch in September, up from three this time last year – and as supply falls, competition among tenants increases, which is driving up rent costs.”

Share this article ...

Join the conversation: Login and have your say

Want to comment on this story? Our focus is on providing a platform for you to share your insights and views and we welcome contributions. All comments are screened using specialist software and may be reviewed by our editorial team before publication. Property Investor Today reserves the right to edit, withhold or delete comments that violate our guidelines, including those that harass, degrade, or intimidate others. Users who post such content may be banned from commenting.
By commenting, you agree to our Commenting Terms of Use.
Recommended for you
Related Articles
The 12 month figure is the lowest seen in Scotland...
This is another element of the government ambition to build...
Prime markets have been hit by the continuing Budget after-shock...
Zoopla expects UK house prices to increase by 2.5 per...
Spain’s draconian new tax is already spooking British investors...
The Budget has forced a revision of forecasts for the...
Prices and sales volumes will grow in 2025 despite the...
Recommended for you
Latest Features
There are some locations offering incentives to British investor buyers...
The market is strong ahead of the April stamp duty...
Sponsored Content
As the property industry shifts towards sustainable practices, Inspired Property...
Are you concerned about rising interest rates and their potential...
In the ever-evolving landscape of property investment, staying ahead of...

Send to a friend

In order to send this article to a friend you must first login. Click on the button below to login or sign up.

No one likes pop-ups ...
But while you're here