Rental market continues to fly thanks to reducing supply
Latest figures from ARLA Propertymark suggest the rental market continues to perform strongly.
Data for February - the latest available from the organisation - suggests the average number of new prospective tenants registered per branch rose to 82, from January’s 81.
Year-on-year this remains the same as February 2020 but is a huge leap from the previous February figure of 65 in 2019.
Regionally, the West Midlands had the highest number of new tenants registered per branch with an average 126.
In terms of rents, half of ARLA’s agents saw landlords increasing rent in February compared to 39 per cent in January. Year-on-year this figure is also up from 40 per cent in February 2020. The number of tenants successfully negotiating rent reductions remained the same at two per cent in February.
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