Average Rents Hit All Time High

According to new figures released by ARLA Propertymark, the percentage of tenants experiencing rent hikes was at the highest level ever recorded in August reaching 40% - up from 31% a month earlier. This is the highest figure recorded since records began in January 2015. Year on year, this figure has increased from 35 per cent in August 2017 and 27 per cent in August 2016. Demand from prospective tenants fell significantly, with the number of house-hunters registered per branch dropping by 19 per cent in August to 64 on average, compared to 79 in July. Year on year, demand is down 11 per cent as there were 72 prospective tenants registered per letting agent branch in August 2017. Read more on the ARLA website.

http://www.arla.co.uk/lobbying/private-rented-sector-reports/