A third of agents saw rents increase in December

29 January 2021 | General

Less than a third (30%) of tenants experienced rent increases in the month of December, ARLA Propertymark’s Private Rented Sector (PRS) Report has revealed.

This figure is slightly higher than the 28% of agents witnessing landlords increasing rents in November, and the first time this figure has risen in four months.

Mark Hayward, chief policy advisor, Propertymark, said: “The slight fall in prospective tenants and properties managed per branch during the month of December is consistent with the usual seasonal lull, and testament to the current steady rental market.

“Letting agents are continuing to support landlords and their tenants during these ongoing difficult times, and it is imperative that tenancies are maintained to keep the rent flowing.

“The continuity of the private rental sector is vital to the nation’s economic bounce back from the COVID-19 pandemic.”

The number of prospective tenants stood at 64 registered per branch in December, an increase from 56 in December 2019.

The number of properties managed per letting agent branch stood at 204 in December 2020, slightly down from 206 in December the year before.

This post has originally been featured in Property Wire.