Demand in the PRS in July increased to its highest level this year according to ARLA Propertymark
The latest ARLA Propertymark Private Rented Sector Report – July 2018 revealed that demand from prospective tenants increased in July, to the highest level this year so far.
The supply of available properties moved in the opposite direction to demand, falling from 191 in June, to 184 last month according to ARLA Propertymark.
David Cox, Chief Executive said:
“Buy-to-let (BTL) investors are being pushed out of the market by increasing costs and continued regulatory change, and new landlords are being deterred from entering.
“Last month, an average of four landlords took their properties off the market per branch, up from three this time last year – and as supply falls, competition among tenants increases, which pushes up rent costs.
“Almost a third saw their rents rise last month, and although this figure was down from June, it’s still far too high. To put tenants back in the driving seat, we need more homes available to rent, and the only way this will be achieved is if the Government makes the market more attractive for BTL investors.”
Read the ARLA Propertymark Private rented Sector Report – July 2018 in full click here.