There were 101 tenants registered per branch on average last month, with 208 properties available.
Rent increases were back to pre-Covid levels, with almost half of tenants experiencing a rise in August, ARLA’s data showed.
Year-on-year, this is 16 per cent lower than in August 2019, when the figure stood at 64 per cent.
At the same time, the average tenancy length was at an all-time high with tenants typically staying in their properties for 21 months.
Angela Davey, president of ARLA Propertymark, said: “Our latest figures reveal the rental market still isn’t showing any signs of slowing down.
“We continue to see record breaking levels of rental stock and demand from tenants, painting a positive picture for the future of the private rented sector.
“With Covid-19 lockdown restrictions starting to increase again as we head towards the colder months, it’s more important than ever for landlords to communicate well with their tenants, and that tenants continue to pay their rent to ensure the market remains strong over the next period.”