Private Rented Sector Report: September 2019


Key Findings:

  • The number of agents witnessing rents hikes remained high in September.
  • The number of properties managed per letting agent branch dropped in September.
  • Demand from prospective renters also fell.


Rent prices

  • The number of tenants experiencing rent rises decreased in September but remained high overall, with 58 per cent of agents witnessing an increase in rent prices.
  • Year-on-year, this figure is up from 31 per cent in September 2018, and 27 per cent in September 2017 [Figure 1].

Rent hikes in September

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

Supply of rental stock and demand from tenants

  • The number of properties managed per branch fell to 193 in September, from 197 in August.
  • Year-on-year supply is down from 194 in September 2018, but up from 189 in September 2017.
  • Demand from prospective tenants also dropped, with the number of house hunters registered per branch falling to 72 on average3, compared to 76 in August.

Landlords selling their buy-to-let

  • In September, the number of landlords exiting the market remained at four per branch.

David Cox

David Cox

Chief Executive

'While the number of tenants experiencing an increase in rent has dropped marginally, rent prices remain alarmingly high as they have done since the Tenant Fees Act came into effect. It’s also concerning to see that the number of properties managed per letting agent branch has fallen. As supply falls, competition amongst tenants increases which further drives up rent costs.

'With the possibility of a general election approaching, we hope that the Government recognises the importance of increasing supply for tenants and uses it as an opportunity to make the market more attractive for landlords'.