A third of agents saw rents rise in December
ARLA Propertymark’s Private Rented Sector reports have stated that only 30% of tenants saw rent prices increase in the month of December.
This figure has risen by 2% when compared to Novembers recorded data. This is the first time this data has shown an increase in over 4 months.
Mark Hayward, Chief Policy Advisor, has argued that the slight fall in prospective tenants and properties managed per branch during December is in line with the seasonal lull at this time of the year.
He also stresses the importance of letting agents in maintaining tenancies and steady rental cashflow for landlords during this uncertain time.
Continuing the private rented sector is imperative to the country’s economic bounce back from the financial implications of Covid-19.
In December 2019 there were 56 prospective tenants registered per branch. By December 2020, this figure had risen to 64.
In contrast the number of properties managed per letting agent branch stood at 204 in December 2020. By 2020 this figure had fallen slightly from the 2066 registered per branch in December 2019.