Latest News

Winter weather precautions

20 January 2021

Propertymark Industry Supplier, Gallagher offers practical steps that can help agents and their clients reduce the risk of damage to property as areas of the nation are set to see further warnings of more inclement weather to come. Damage caused by the escape of water from frozen pipes and other equipment can be extremely costly in repairs and disruption. Read More...

Concerns raised over new energy efficiency proposals

20 January 2021

Propertymark has responded to the UK Government’s consultation on Improving the Energy Performance of Privately Rented Homes in England and Wales by highlighting a number of concerns. These relate to affordability and the need to look beyond a one-size fits all policy and develop proposals that work with the different age, condition, and size of properties in the private rented sector. Read More...

Change smoke and carbon rules for earlier checks

19 January 2021

Propertymark has responded to the UK Government’s consultation on extending the Smoke and Carbon Monoxide Regulations in England, arguing that the rules should be amended so that landlords and agents must make sure the alarms are tested prior to the start of the tenancy and not on the first day of each new tenancy. Read More...

Demand from tenants highest ever on record

Thursday 27 August 2020

Propertymark’s Private Rented Sector Report for July shows a record-breaking month across the board, with increases in demand, supply, and average tenancy length.

Rental property demand

The report shows a new all-time high for prospective tenants, at 97 registered per branch. This record rise in demand compares to 79 prospective tenants on average in June, passing the previous peak of 88 in January 2020.

Supply of rental stock

In addition to this surge, it was also a landmark month for supply of rental stock, with the highest ever level recorded, beating July 2017’s record of 192. This average of 208 properties managed per letting agent branch was also a monthly increase from June 2020’s 200 properties per branch.  Wales had the most prospective tenants registered per branch showing an average of 201.

Positive indicators 

Average tenancy length was at an all-time high in July, with tenants staying in their properties for 21 months. Regionally, this figure was highest in the South East with tenancies lasting 24 months.

It appears that agents, landlords, and tenants are moving quickly to make the most of this momentum in the sector, as the average time properties were empty between tenancies decreased to three weeks in July from four weeks in June. These figures show a far more positive private rented sector ecosystem than is generally accepted with demand high and tenants enjoying longer tenancies.

Read the full report

Quote mark

Our latest figures show the rental market still continues to gather momentum following the reopening of housing markets across the UK.

We have seen a record-breaking level of rental stock, and demand from tenants continues to grow, providing a positive outlook for the future of the private rented sector. For the market to fully recover from the COVID-19 pandemic, it is vital that landlords have good communication with their tenants, and that they continue to keep paying their rents, especially in light of rule changes and announcements impacting notice periods and additional government financial support being offered to tenants and landlords.

Phil Keddie

Phil Keddie
ARLA Propertymark President