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Monday, July 03, 2017

ARLA's PRS report for May

  • 27% of agents reported rent hikes 
  • Supply of rental properties up 11% on the year.
  • The average branch manages 189 properties ( up from 171 in May 2016)
  • Landlords selling property fell

ARLA 's David Cox comments: 

“Private rents rose by 1.8 per cent in the 12 months to May 2017, and the last thing tenants need is for them to get even higher. With the new government confirming a Tenants’ Fee Bill in last week’s Queen’s Speech, we can expect them to rise by up to £103 a year, hitting loyal tenants looking for long-term agreements hardest. This is on top of any natural organic rent growth as well. The only thing which could offset this would be to significantly increase rental stock, but until this happens and supply and demand meet in the middle, rents will only become more and more unaffordable.”

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