Rent rise surge in UK private rented sector subsided in September
A surge in rent increases in the private rented sector in the UK has subsided with the number of rises falling in September compared to the previous months, the latest survey shows. After several months of rising costs, the number of letting agents who saw landlords increasing prices for tenants fell to 27% from 35% in August, according to the monthly report from the Association of Residential Letting Agents (ARLA). ARLA says that the figures are a sign that the rental market is moving in the right direction as this was the first month on month decrease since May, when the figure also stood at 27%. However, year on year the number of tenants experiencing rent rises is up. In September 2016 only 24% of agents reported landlords increasing rents. The report also show that demand for homes to rent increased by 10% month on month but the supply available to new tenants was unchanged. In September there were 79 prospective tenants registered per member branch, up 10% from August when there was 72 per branch. The number of properties managed per member branch remained the same in September, at 189, down 2% from September 2016 when agents managed 193 on average.
Tags : INTERNATIONAL