The average number of new prospective tenants per letting agent branch dropped from 83 in September to 71 in October, says Arla Propertymark.

It’s in the North West where the most people are looking, at an average of 163 potential tenants per branch.

Yorkshire and the Humberside, Wales, and Northern Ireland jointly contain the fewest tenants looking per branch, at 26.

As well as this, the number of existing tenants who saw a rent increase fell, with 75% of estate agents reporting this in September and 68% doing so in October.

Meanwhile, 0.8% of tenants managed to secure a rent reduction in September compared to 0.5% in August.

Despite this, the number of properties managed per branch dropped on a monthly basis from 199 to 196, which compares to 213 in October 2020.

In the North East, this figure jumps to 350 in October and, in London, sinks to 69 managed per branch.

Propertymark chief executive Nathan Emerson says: “The private rented sector remains under pressure. However, demand has fallen for the second consecutive month and the number of tenants experiencing rent increases has fallen.

“There are clear issues with the availability of properties, with some regions, London in particular, being in very short supply of rental stock. This is being exacerbated by the current legislative and regulatory changes taking place, as well as energy efficiency targets, both of which could squeeze landlords and make them consider leaving the market.

“Under this increasing pressure, it is crucial that measures are introduced to retain landlords and incentivise more into the sector.”