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Private rented sector sees highest rent rises in 14 month period

Private rented sector sees highest rent rises in 14 month period

Thursday 10th August 2017

According to the latest results from ARLA Propertymark, the month of June saw an increase in rents of 31 per cent, up from 27 per cent in May and the highest level since April 2016.

However the demand from tenants has dropped slightly with 61 new tenants registering against 65 in April and May this year.

"With the cost of living on the rise and inflationary pressures tightening, the last thing tenants need is for their rents to continue rising. However, the fact that supply looks to be rising, while demand has dropped slightly indicates a move in the right direction for the market" says David Cox, ARLA Propertymark chief executive.

"Ultimately, to stop rent prices from increasing too much, we need to find the balance between supply and demand. While there's still a long way to go, if the supply of rental stock continues to increase, and the number of tenants searching for new properties drops off, we'll be making headway towards achieving this" he adds.