Supply of private rental properties available in London fell by a third in April according to ARLA Propertymark

May 26, 2017

According to the latest ARLA Propertymark UK Private Rented Sector report for April, supply of properties available in London fell by a third in April, while only rising marginally on average across the UK.

The number of tenants negotiating rent reductions fell last month – 2.8 per cent of agents witnessed tenants successfully negotiating rent reductions, whereas, in March, 3.6 per cent reported this happening. Furthermore, 24% of letting agents saw landlords increasing rents in April – a drop of one percentage point from March.

In April  the number of properties managed per member branch increased marginally, with agents managing 185 on average, up from 183 in March. Tenants stayed in their rental accommodation for an average of 17 months, a decrease from 18 months in March.

David Cox, ARLA Propertymark Chief Executive, said: “Although the rental market in London has seen a large drop in the supply of properties available to rent, it’s a different picture in the rest of the UK where we have seen little or no change to activity since March. It’s likely we’re seeing the rest of the rental market outside of the Capital plateau as a result of the election in June, with renters potentially holding back on their property searches until after 8th June. It’s important that housing is at the top of the new Government’s agenda, as we have had two elections and a referendum in the last three years which is stalling the policy process meaning that we do not have the right houses available to provide the homes people need.”

Read the ARLA Propertymark UK Private Rented Sector report for April in full click here.

Allen Walkey

Highly experienced businessman with a successful career in property sales and investment both in the UK and abroad. Now a freelance writer and blogger for the property and Investment Industry, keeping readers up-to-date with changes and events in a rapidly changing world.

You May Also Enjoy

Estate Agent Talk

5 Reasons to Invest in an Airbnb on the Isle of Wight

The Isle of Wight is one of the UK’s most beloved holiday destinations, offering stunning coastal views, historic sites, and a relaxed island lifestyle. With the rise of staycations and the increasing popularity of short-term rentals, investing in an Airbnb on the Isle of Wight presents a lucrative opportunity. Whether you’re a seasoned property investor…
Read More →
Love or Hate Rightmove
Breaking News

25,000 first-time buyers set to miss stamp duty deadline and complete in April

Over 25,000 first-time buyers in England who are currently going through the process of legally completing on a property purchase are predicted to miss the stamp duty deadline on March 31st, and complete in April Nearly 74,000 movers in England in total are set to miss the deadline and complete in April, with a collective…
Read More →
Estate Agent Talk

How Property Part Exchange Works: A Step-by-Step Guide

When it comes to selling your home and buying a new one, the process can often be complex, stressful, and time-consuming. However, property part exchange offers a convenient solution for homeowners looking to move without the hassle of a traditional sale. In this guide, we’ll walk you through how property part exchange works and why…
Read More →
Letting Agent Talk

Understanding the Decent Homes Standard: What Landlords Need to Know

As a landlord, ensuring your rental property meets the Decent Homes Standard is essential for maintaining compliance, keeping tenants satisfied, and protecting your investment. With evolving regulations and increasing tenant expectations, landlords in Banbury must stay informed about their responsibilities. Whether you’re new to the rental market or a seasoned investor, understanding these standards can…
Read More →
How to add value to your home
Home and Living

The Ultimate Checklist for Preparing Your Home for Viewings

Selling a home is an exciting journey, but to attract potential buyers and secure the best offers, it’s essential to present your property in its best light. Whether you’re selling through Belvoir or looking to attract renters, a well-prepared home can make all the difference. Follow this ultimate checklist to ensure your home is ready…
Read More →
small house bird box
Estate Agent Talk

Families can move up the property ladder by paying 1% more in this city

Families in Suffolk can take a significant step up the property ladder with minimal financial stretch, as the team at Suffolk Pocket Door Company reveal that upgrading from a terraced house to a semi-detached home in West Suffolk costs just 1% more on average. Here Carl Benson, owner of Suffolk Pocket Door Company comments. Why…
Read More →