December 4, 2018
The Association of Residential Letting Agents has put together a brief summary of the 2018 rental market.
In figures, the supply of rental accommodation dropped slightly in 2018, from 189 on average per ARLA branch in 2017, to 187 this year.
It reached an annual high in October, when letting agents were managing 198 per branch.
In line with this, as landlords continued to face legislative change, the number of buy to let investors selling their properties increased from an average of three in 2017 to four in 2018.
In April and May this year, the figure spiked to five per branch – the highest since records began in 2015.
Meanwhile the number of tenants experiencing rent hikes also increased this year, to 25 per cent each month in 2017, to 28 per cent on average this year.
Agents reported a spike in the number of prospective tenants searching for homes in July, when 79 were recorded per branch, compared to 68 on average across the year.
Source – LA Today – Click here for Article