One in three letting agents report rent increases

More than one in three letting agents reported rent increases last month, ARLA has said.

The 36% who said that rents had increased between May and June was the highest percentage ARLA has yet recorded.

In the east midlands half (48%) of agents said rents rose in June, compared with 17% in Wales.

Eight in ten ARLA agents said that private rents would continue to soar over the next five years – possibly as a result of reductions in tax relief that buy-to-let investors will be able to claim.

The report also shows that rental supply in London continues to drop in London. In June, the average ARLA office managed 118 properties, compared with 134 in May.

The ARLA report also notes a rise in demand for short-let properties, available for up to three months. One third of agents reported an increase in such inquiries.

ARLA managing director David Cox said: “It is worrying to see so many agents reporting an increase in the cost of rent over the last six months.

“Findings like this continue to prove that the housing crisis isn’t going to disappear any time soon.”

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One Comment

  1. StatementOfFact

    One in three report rent increases, the other two in three aren’t doing their jobs correctly.

    What is worrying Mr ARLA managing director is that you are the head of a body representing lettings agents and you think rent rises are a concern? they are both inevitable and natural, and as your “clients” clients act for the landlord, rent rises are good.

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