The average number of new tenancies agreed per lettings agent branch climbed to around eight in the first month of this year, a new report has revealed.
The research by industry body Propertymark highlighted the increase from seven during the previous month, in December 2024.
It also found that demand continues to outstrip supply, with the average number of applicants per member branch reaching around nine people for each available property in January of this year.
Nathan Emerson said: “For the private rental market, pressures remain, and the age-old story continues of demand levels increasing against a slowing backdrop of supply.
“We know that without Government support for landlords to continue in the market or for future investors to enter, many may take their investment capability elsewhere or sell up altogether, worsening the ever-widening gap and ultimately pushing up rents even further.”
The report also highlighted the average number of properties in rental arrears per member branch.
This rose from 2% in December 2024 to almost 3%in January 2025.
Phil Spencer, TV presenter and founder of Move iQ, said: “For renters, it seems to be a relentless battle to find an ideal home and ensure it’s affordable.
“With the long-awaited Renters’ Rights Bill to become law and a Government consultation underway on plans to require landlords to improve energy efficiency in private rental properties by 2030, both initiatives will provide much-needed help and assistance to renters but may equally impose substantial new costs on landlords.
“How these additional pressures play out in the rental market will be a major part of the story in 2025.”
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