ARLA agents see February rent hikes
In the South East two fifths (41%) of agents reported an increase, while at the other end of the spectrum just 13% of Welsh agents saw a rental increase.
David Cox, managing director of ARLA, said: “Demand for rented accommodation is still on the increase, and monthly rents are following suit.
“When demand is high then the premium for a home increases; house prices are still sky high and are unlikely to reduce anytime soon, which means that getting onto the property ladder is a challenging and unlikely task for many, so renting a property is the only option available.”
Available supply in the already fierce London market has dropped to 122 properties per branch, down from 140 in January.
But the East Midlands recorded the highest level of supply, as there were 269 properties per branch on average.