The number of tenants experiencing rent increases fell for the third month in a row in November, the ARLA Propertymark November Private Rented Sector (PRS) report has revealed.
Just 28% of agents saw landlords increase rents, compared to 37% in October and 40% in September.
Mark Hayward, chief policy adviser, Propertymark, said: “The consistency in this month’s figures exemplify the steadying wider rental market, with letting agents continuing to support landlords and their tenants during these ongoing difficult times.
“The continuing fall of increased rents in particular is testament to the understanding being shown across the sector.
“As the UK experiences ever changing lockdown measures and regional restrictions, it is vital that tenancies are maintained to keep the rent flowing, as the stability of the private rental sector is essential to the wider economy’s bounce back from the COVID-19 crisis.”
The number of new prospective tenants fell in November to an average of 65 registered per branch, from an average of 88 in October.
Regionally, the North West had the highest number of new tenants registered per branch with an average of 121, and Northern Ireland recorded the lowest number with an average of 26 registered per branch in November.
This post has originally been featured in Property Wire.