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More tenants saw rent increase in January – ARLA Propertymark

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  • 25/02/2019
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The number of tenants experiencing rent increases in January rose for the first time since September 2018, data showed.

 

Around 26 per cent of letting agents witnessed landlords increasing rents, compared to 18 per cent in December, according to the latest figures released by ARLA Propertymark.

This is the highest figure recorded since September, when 31 per cent of tenants were experiencing rises. Year-on-year, this figure is up seven percentage points, compared to January 2018.

The supply of properties available to rent per lettings firm rose to 197 in January, from 193 in December.

Demand from prospective tenants also increased in January, with the number of house-hunters registered per branch rising to 73 on average, compared to 50 in December.

David Cox, ARLA Propertymark chief executive, said that this month’s results are another huge blow for tenants.

He added: “With demand increasing by 46 per cent from December, and rents starting to rise in response to all of the cost increases landlords have experienced over the last few years, tenants are in for a rough ride.

“Last month, there were three landlords selling their buy-to-let (BTL) properties per branch, and as landlords continue to exit the market, rent prices will only continue to rise.

“With the Tenant Fees Act passing its final hurdle in the House of Commons and receiving Royal Assent this month, tenants will continue bearing the brunt, as agents and landlords start preparing for a post-tenant fees world.”

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