The number of tenants looking for new homes fell in May according to ARLA Propertymark

July 2, 2018

The ARLA Propertymark Private Rented Sector Report – May 2018 headlines ‘Rental Stock Rise – And So Does The Bill For Tenants’.

The report reveals that the number of rental properties letting agents managed increased by four per cent in May, the highest figure recorded this year.

The percentage of tenants experiencing rent hikes rose in May, while the number of tenants looking for new homes fell according to ARLA Propertymark.

David Cox, Chief Executive said:

“There’s a chronic supply shortage in the rental market at the moment, and while it’s positive that the number of properties available to rent seems to be rising, this is just a drop in the ocean; it isn’t nearly enough to fix the market for tenants. Competition is getting more and more fierce, and with legislative changes hitting landlords from all sides, the cost of renting is only increasing.

“The Government’s recent announcement around licensing changes for landlords is a prime example; licensing doesn’t work and it never has done. It means councils will spend time and energy administering schemes, rather than concentrating on increasing housing stock in their areas and enforcing against rogue, criminal landlords. Coupled with the gradual removal of mortgage interest relief, new energy standards for landlords and the ever-increasing fees for these schemes, landlords are being expected to bear more and more costs; which is probably why the number of landlords leaving the market has remained at the all-time high we saw last month. We’re all striving for the same end goal of improving the private rental sector for consumers, but the only thing which will truly create a better – fairer – market, is a dramatic increase in supply.”

Read the ARLA Propertymark Private Rented Sector Report – May 2018 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

Breaking News

Breaking Property News 13/2/26

Daily bite-sized proptech and property news in partnership with Proptech-X.   96% of proptechs fail to get to series A funding – here is why Thought Leadership by Andrew Stanton, CEO Proptech-PR The proptech sector has never been short of ideas. From AI-driven valuations and digital conveyancing to smart buildings and tokenised real estate, innovation in property…
Read More →
Breaking News

Landlords unprepared for the Renters’ Rights Act

Three quarters have made no preparations for the end of Section 21, despite major reforms taking effect from May 2026 New research from Inventory Base has revealed widespread lack of preparedness among UK landlords ahead of the first phase of reforms under the Renters’ Rights Act (RRA), due to come into force on 1 May…
Read More →
Breaking News

Why capital is staying in London despite a cooling housing market

By Joe Freedman, Head of Origination at ASK Partners London isn’t suffering from a lack of housing demand. It’s suffering from a failure to deliver. New data from Molior underlines the scale of that failure. Just 5,547 private homes broke ground across the capital last year, an 84% drop from a decade ago. Against an…
Read More →
Breaking News

The hidden risk of overvaluing your home when moving in today’s market

With many homeowners turning ambitious conversations into tangible moving plans, the start of the year traditionally marks a surge in activity, particularly for families planning for the future. While the property market remains fundamentally healthy, experts at Beresfords say overvaluing property is one issue that continues to undermine the progress of those looking to sell.…
Read More →
Rightmove logo
Breaking News

Rightmove launches next phase of AI-powered property search

Rightmove, the UK’s largest property platform, has launched a beta version of AI-powered conversational property search, as it continues to enhance its property search experience. In close collaboration with Google Cloud and built with Google’s Gemini models, conversational search is available via the property search bar on Rightmove’s website homepage. The latest move further expands…
Read More →
Breaking News

Should you break things off with your mortgage lender this Valentine’s Day?

As Valentine’s Day approaches, the latest research from award-winning mortgage adviser, Alexander Hall, has revealed that more than half of homeowners approaching the end of a fixed-rate mortgage are currently undecided on their relationship with their lender, despite notable improvements across the mortgage market over the last 12 months. The consumer insight, commissioned by Alexander…
Read More →