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Fewer landlords hiking rents ‒ ARLA Propertymark

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  • 18/12/2019
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Fewer landlords hiking rents ‒ ARLA Propertymark
Less than a third (32 per cent) of letting agents reported landlords were increasing rents in November, the latest private rented sector report from ARLA Propertymark has revealed.

This is a significant drop from the 50 per cent of agents who saw landlords hike rents in October, and is the lowest figure since March when it stood at 30 per cent.

However, the trade body highlighted that this is still a notable increase from the last two Novembers, when it stood at 21 per cent and 16 per cent respectively.

The report found that demand from would-be tenants dropped in the month, from 72 registered prospective tenants on average per member branch, to 67. This is the third month in a row in which demand has fallen.

However, there is positive movement on the supply side, with the number of properties managed per branch increasing from 201 in October to 203. This is also a year-on-year increase, from 183 in November last year and 192 in November 2017.

David Cox, chief executive of ARLA Propertymark, called on the new government to recognise the importance of making the rental market attractive for both tenants and landlords.

He said: “They must be very careful about reforming Section 21 which could cause supply to plummet, and if it is to be abolished, Section 8 must be reformed first and a new specialist housing tribunal created. Without this, supply will almost certainly fall which will have the consequential effect of raising rents.”

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