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Figure 1: Average number of tenants experiencing rent hikes in October year-on-year
'This month’s figures show some temporary relief for tenants; however, while the number of landlords increasing rents has fallen, year on year the figure remains worryingly high. Even looking at the increase in the number of tenants negotiating rent reductions, which should be a positive thing, when comparing year-on-year it is less than half of what it stood at in 2018.
'For far too long, successive governments of all political persuasions have passed significant amounts of complex legislation for landlords making the buy-to-let market a less attractive investment, and this coupled with Brexit uncertainty and a looming general election has left the sector strained. Unfortunately, rents are likely to remain high and tenants will continue to feel the pinch.'
David CoxChief Executive ARLA Propertymark