Demand presures on the PRS are not easing and still pushing up rents

The latest Propertymark PRS report indicates properties available per branch are remaining static at 10, but demand from tenants is continuing to increase.

In May there was an average of 113 new applicants registered per member branch. 79% of agents reported a rise in rental prices and the average void period between tenancies has dropped to below 2 weeks.

Nathan Emerson, CEO of Propertymark said: “Pressures on the sector are not easing, especially in England given that the recent Renters’ Reform White Paper has now been published. What’s important, is that landlords understand that this paper is a set of proposals and that there is still a process of debate and discussion before any legislation is brought in.

“The UK Government have also committed to ensuring landlords have access to their properties via a revised Section 8 notice. Given the ever-widening gap between supply of homes and demand, it is crucial that Government’s across all nations prioritise reforms that incentivise new and existing investment in the sector.”