Landlords imposing rent increases – but the tenants keep coming, in record numbers
The number of tenants experiencing rent increases jumped in July, as 71 per cent of agents saw landlords increasing rents compared to 60 per cent in June.
This is the highest rate increase on record, beating the 68 per cent increase in May this year. It also far surpasses July last year when rate increases stood at 39 per cent.
It’s clear that as we are coming out of the pandemic, many renters that have been sitting tight are now looking to move, with the number of prospective tenants at an all-time high, and stock increasing in line with this.
Buoyed by the certainty of the market at present, we are also seeing a significant number of landlords increasing rents.
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