Rental market continues to fly thanks to reducing supply

Latest figures from ARLA Propertymark suggest the rental market continues to perform strongly.

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Data for February - the latest available from the organisation - suggests the average number of new prospective tenants registered per branch rose to 82, from January’s 81.

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Year-on-year this remains the same as February 2020 but is a huge leap from the previous February figure of 65 in 2019.

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Regionally, the West Midlands had the highest number of new tenants registered per branch with an average 126.

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In terms of rents, half of ARLA’s agents saw landlords increasing rent in February compared to 39 per cent in January. Year-on-year this figure is also up from 40 per cent in February 2020. The number of tenants successfully negotiating rent reductions remained the same at two per cent in February.

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