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IS THIS THE CALM BEFORE THE STORM FOR TENANTS?

January 2nd 2019
By: Kirsty

Arla
 

Our latest Private Rented Sector Report found that the number of tenants experiencing rent increases fell to lowest level seen since February this year - with renters in Wales the worst affected where 55 per cent saw their rents rise, compared to just six per cent in the West Midlands.

Supply of available properties fell this month, from 198 to 183 in November, which is the lowest figure seen since April this year, when supply stood at 179.

The number of buy-to-let landlords selling up remained the same this month at four per branch, however the East Midlands and the East of England saw eight landlords on average selling their properties.

To read the full PRS report:click here

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“It looks like tenants are starting to take control, with the number of landlords hiking rents falling for the third month in a row. However, as we look ahead to 2019, things don’t look as positive for tenants.

“Our members expect more landlords to be driven out of the market by rising costs, which will increase competition and push up rent costs. If we want to secure market stability in the New Year, we need to increase stock and making the market more attractive for BTL investors is the only way this can be done.”