For the first time in 2015, the number of lettings agents that are seeing rent hikes for the tenants decreased from last month. There were just 33 percent of the landlords that were putting up rents last August according to the survey conducted. Data gathered from the Private Rental Sector report coming from the Association of Residential Letting Agents (ARLA) shows that the rental has dropped from about 37 percent last month and is the lowest since April of this year.
This is not a universal trend however and tenants situated in the South West are not anymore benefitting with 42 percent of agents within the region that are continuously seeing the rent prices increase by about 4 percent last month. This figure is compared to only 12 percent of the agents in the North West region where it witnesses an increase in rent. In Wales, the tenants are facing a difficult time too. The number of landlords in the area putting rents up for their respective tenants increased threefold from four months ago. This month though 36 percent of the letting agents who are in Wales saw the increase up 25 percent from July as just 11 percent of the agents reported the increase in rent prices.
The report also showed that after there was a spike in the number of houses that were available for rental last month, the supply in the market has consequently fallen down to levels which were last seen in June this year. ARLA letting agents were able to manage an average of about 178 properties in every branch last August as opposed to 189 the previous month.The report also found out that the number of house hunters in the sector of rentals increased marginally last August. The letting agents’ registers an average of about 36 prospective tenants that were registered in every branch compared to last July with about 34.
The property sector has continued to strengthen and along with these, other businesses or companies like the Crisp Contracts Limited are also doing well in the business of providing suspended ceilings in UK.