Calm before the storm?

by Property 118

9:48 AM, 19th December 2018
About 2 years ago

Calm before the storm?

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Calm before the storm?

David Cox, ARLA Propertymark Chief Executive, said: “It looks like tenants are starting to take control, with the number of landlords hiking rents falling for the third month in a row. However, as we look ahead to 2019, things don’t look as positive for tenants. Our members expect more landlords to be driven out of the market by rising costs, which will increase competition and push up rent costs.

“If we want to secure market stability in the New Year, we need to increase stock and making the market more attractive for BTL investors is the only way this can be done.”

Rent prices

The number of tenants experiencing rent increases fell for the third month running in November, with 21 per cent of agents reporting that landlords increased rents, compared to 24 per cent in October and 31 per cent in September.

However, year on year the number of tenants experiencing rent rises is up from 16 per cent in November 2017.

Supply of rental stock

The supply of properties available to rent fell to 183 in November, from 198 in October.

This is the lowest level seen since April, when supply stood at 179 and is down four per cent year on year.

 Demand from tenants

Demand from prospective tenants decreased in November, with the number of house-hunters registered per branch dropping to 55 on average, compared to 71 in October.

Opinium Research carried out an online survey among 312 ARLA members from 3rd December to 12th December 2018. ARLA Propertymark Protected letting agents were surveyed on a number of key rental sector issues including supply and demand, the management of BTL properties, and monthly rent prices. www.opinium.co.uk



Comments

Gromit

10:55 AM, 19th December 2018
About 2 years ago

David Cox, ARLA Propertymark Chief Executive, said: “It looks like tenants are starting to take control.........."

This an admission of the total failure of the current Landlord Associations to represent Landlords and Letting Agents to lobby Government against the likes of Shelter, Generation Rent, etc

Possession Friend

11:40 AM, 19th December 2018
About 2 years ago

Sorry, but WHERE exactly are tenants taking control ? Rents rose at different rates, not surprisingly moreso during the summer where there's traditionally higher demand.
Rents are still up now from a year ago and set to continue, Where is that 'control' by tenants ?
What Tenants in the main are not grasping is the 'REASONS' for the increases i.e. Sec 24 Tax, and Licensing etc. Govt are hoping to hoodwink tenants into voting for them, because of All the policies they're introduced on the PRS, hoping most tenants won't recognise the impact their having on rental prices.

Gromit

11:53 AM, 19th December 2018
About 2 years ago

I think he means Tenants supporting organisations are driving the agenda e.g. Tenant Fee Ban, 3yr Tenancies, Abolition of Sec.21, etc

Recardo Knights

16:48 PM, 19th December 2018
About 2 years ago

So how are tenants taking control? Threatening landlords they will leave if the rent rises?
I have not risen rents for years but things may change next April if sec 24 is not reversed. I will start to sell up. Who's taking control of that only the government with more homeless.

Richard Adams

21:41 PM, 19th December 2018
About 2 years ago

I wish David Cox would not use the word hike. Raise is the proper word in the context of his post. Collins dictionary definition of word hike is: "To hike prices, rates, taxes, or quantities means to increase them suddenly or by a large amount".


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