The rate at which properties are added and removed from the Rightmove website has not materially changed over the period, it said, resulting in the upwards pressure on rents reaching new heights.
Its research found that 63% of tenants believe their rents will be higher in 12 months’ time, up 53% from the last quarter.
Miles Shipside, director of Rightmove, said that without a significant increase in rental supply there is a danger of a rental bubble in some parts of the country.
He said: “Six out of ten tenants forecast that their rents will be higher in 12 months’ time. This might be music to some landlords’ ears but in reality it is the sound of many tenants crying for help.
“In areas where rents are close to their affordability ceiling landlords should be prepared to listen and avoid a situation which results in voids and arrears.”
Shipside added that existing and prospective investors should do their research on the ‘housing demand hotspots’ looking at locations that could offer potential investment opportunities.
According to Rightmove, the top locations by search volume on its website include London, Manchester, Bristol, Norwich and Cambridge, while South West London, Oxford, East London, Cambridge and Canterbury have been listed as the top post-towns for a ‘landlords market.’
