Landlords Alliance – Emergency Euro Elections Statement21:09 PM, 21st May 2019
About 4 days ago 70
In August, the number of tenants experiencing rent hikes increased to 40%, from 31% in July. This is the highest figure recorded since records began in January 2015 and the highest level every in August.
Year on year, this figure has increased from 35% in August 2017 and 27% in August 2016.
ARLA Propertymark is today issuing its August Private Rented Sector (PRS) Report.1
David Cox, ARLA Propertymark Chief Executive, said: “As we’ve highlighted before, the impact of recent and ongoing tax changes continues to have a material impact on the buy-to-let market. Four in ten tenants saw their rents rise in August – the highest level we’ve seen since records began. Although it’s encouraging to see the number of properties available to rent rising, supply still isn’t anywhere near high enough to slow down the pace of rent rises. We need more homes to rent, and for Government to change its narrative and recognise the very valid role buy-to-let plays in the housing mix. Driving small landlords out of the market ultimately impacts tenants most.”
Demand from tenants
Supply of rental stock
1 Opinium Research carried out an online survey among 191 ARLA members from 29th August – 13th September 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
2 Based on new option ranges, so comparisons beyond April 2017 unavailable
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