Rent prices
- The number of tenants experiencing rent rises increased to the highest figure on record in June, with more than half (55 per cent) of agents witnessing landlords increasing them. This is a 22 per cent increase from May which was a previous record high.
- Year-on-year, the number of tenants facing rent increases is up from 31 per cent in June 2017, and 35 per cent in June 2018 [Figure 1].
Figure 1: Average number of tenants experiencing rent hikes year-on-year for the month of June
Supply of rental stock and demand from tenants
- Letting agents had an average of 199 properties under management per member branch in June, a decrease from 201 in May.
- Demand from prospective tenants also increased marginally in June, with the number of house hunters registered per branch rising to 70 on average, compared to 69 in May.
- Year on year, demand has fallen, from 71 house hunters registered per branch in June 2018.
Landlords selling their buy-to-let
- In June, the number of landlords exiting the market remained at four per branch. This stood at the same figure in June 2018.