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Take a look at past reports to see how the market has changed over the years by selecting which year you would like to view.

Prior to 2015 we issued quarterly surveys of our member firms and of residential landlords. To access these surveys click the options below.

Member firms | Residential landlords

 

Private Rented Sector Report - October 2018

RECORD NUMBER OF TENANTS NEGOTIATE RENT REDUCTIONS

Key Findings

  • The number of tenants successfully negotiating rent reductions increased by 85 per cent in October
  • In line with this, the number of landlords putting rents up dropped to the lowest level in seven months
  • Demand from prospective tenants rose while the supply of available properties increased

 

Rent prices

  • The number of tenants successfully negotiating rent reductions jumped from two per cent in September to 3.7 in October. This is the highest figure seen since records began in January 2015.
  • In line with this, the number of tenants experiencing rent increases fell for the second month running in October, with 24 per cent of agents reporting that landlords increased rents, compared to 31 per cent in September and 40 per cent in August. 

Rent Hikes

Figure 1: Average number of tenants experiencing rent hikes year-on-year

Supply of rental stock

  • The supply of available properties rose from 194 in September to 198 in October.
  • This is the highest figure seen since December 2017, when supply stood at 200 and is up nine per cent year on year. 

Demand from tenants

  • Demand from prospective tenants increased in October, with the number of house-hunters registered per branch rising to 71 on average, compared to 63 in September.

David Cox

David Cox

Chief Executive

“Last month’s findings indicate that power in the rental market could be shifting towards tenants, with a record number negotiating rent reductions, and less landlords hiking rent costs. However, it’s more likely that this is indicative of the time of year and come the New Year, we’ll see rent prices starting to creep up again.

“There’s no real way of avoiding it unfortunately – with landlords facing continued regulatory change, increasing costs will be passed on to tenants. Those who don’t pass the costs on will eventually have to exit the market, which will increase competition and boost prices. It’s the ultimate ‘lose, lose’ situation.”

PRS Report

Report Archive

Take a look at past reports to see how the market has changed over the years by selecting which year you would like to view.

Prior to 2015 we issued quarterly surveys of our member firms and of residential landlords. To access these surveys click the options below.

Member firms | Residential landlords