The average number of people looking for a place to rent fell from 107 per letting agent branch in August to 83 in September, shows Arla Propertymark’s latest private rented sector (PRS) report.
This is, however, higher than the 82 recorded per branch this time last year – making it the highest number registered in September.
The report shows that the West Midlands is facing the highest demand, with 106 people registered per branch, and Northern Ireland the lowest, at 42 per branch on average.
Regarding supply, the number of properties managed per branch rose slightly on a monthly basis, from 196 to 199, which is higher than September 2020’s figure of 193.
And the number of tenants who saw their rent go up in September stood at 75%, down slightly from August’s figure of 79%.
Again though, despite a slight easing over the short term, in September 2019, 58% of tenants saw their rent rise and this year’s figure is the highest for September on record.
Propertymark chief executive Nathan Emerson says: “The PRS remains under pressure as we continue to see high demand for properties and rent increases.
“As we emerge from the pandemic, lower-income renters are facing mounting pressures on their ability to pay their rent, with rising energy prices, inflation set to top 4% by the end of the year, the freeze on local housing allowance rates and the removal of the uplift in universal credit only set to exacerbate that.
“While landlords in the private rented sector have been happy to shoulder some of the burden, it is not fair on them or vulnerable tenants who then fall into arrears.
“It is encouraging to see the government recognise the issue, with the introduction of a £65m debt fund for renters in arrears, which will go some way in helping to sustain tenancies and preventing potential homelessness.”
