Rental Supply Fell By A Third In London Last Month

The supply of properties for rent in the UK fell by a third in London in April and only increased marginally in the rest of the country. The latest report from the Association of Residential Letting Agents (ARLA) also shows that rents are rising and fewer tenants are negotiating rent reductions. In London the number of properties managed per ARLA member branch fell by 32% from 148 in March to 101 in April and letting agents had 65 prospective tenants registered per branch.  The number of tenants negotiating rent reductions fell from 3.6% in March to 2.8% last month and 23% of letting agents saw landlords increasing rents. Read more on Property Wire.