Rents Rose in July, Despite Increase in Available Homes

The number of properties available for letting to tenants rose in July, but so did rents, according to the monthly Private Rental Sector (PRS) report from the Association of Residential Letting Agents (ARLA). It member agents managed an average of 189 properties per branch in July compared to 178 in June. Demand across the UK has decreased slightly, it added, with an average of 35 prospective tenants registered per ARLA branch in July, compared to 36 in June. This may be a result of the quieter summer months, the organisation said, but added it is a step in the right direction for balancing supply and demand in the sector. Read more on the Housing Excellence website.