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

 

Private Rented Sector Report - August 2018

RENTS AND RECORDS HIT ALL TIME HIGH

Key Findings

  • The percentage of tenants experiencing rent hikes was at the highest level ever recorded in August.
  • Demand from tenants looking for new homes fell, while the number of properties letting agents managed increased.

 

Rent prices

  • In August, the number of tenants experiencing rent hikes increased to 40 per cent, from 31 per cent in July. This is the highest figure recorded since records began in January 2015.
  • Year-on-year, this figure has increased from 35 per cent in August 2017 and 27 per cent in August 2016.

Rent Hikes

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

Demand from tenants

  • Demand from prospective tenants fell significantly, with the number of house-hunters registered per branch dropping by 19 per cent in August to 64 on average, compared to 79 in July.
  • Year on year, demand is down 11 per cent as there were 72 prospective tenants registered per letting agent branch in August 2017.

Supply of rental stock

  • The supply of available properties rose to 197 in August, from 184 last month.
  • This is the highest figure seen since December 2017, when supply stood at 200.
  • Year on year, this figure is up four per cent from 189 in August 2017.

David Cox

David Cox

Chief Executive

“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.”

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