Private Rented Sector Report April 2022

Private Rented Sector Report

Propertymark's monthly PRS Report for landlords in Preston, Leyland, Chorley and Blackburn

High rents not deterring prospective tenants

PRS Report

Rents are rising across the UK. Despite this, we continue to see high demand from prospective tenants. An average of 95 new applicants were registered per member branch, an increase from 78 per branch recorded in February.

Number of homes for rent remains low

Propertymark members reported having nine properties on average per member branch that were empty and freely available to rent in April. This figure has increased significantly since February’s low of five, and is only slightly below the pre-pandemic average for April of ten (2017–2019).

Rent rises continue

75 per cent of member agents reported month-on-month rent prices increasing in April compared to the pre-pandemic figure of just 31 per cent on average (based on 2015–2020 data)

Tenants stay put for longer

Terminated lease lengths extended to 24 months on average across the UK in April up from the long-term average of 19 months (based on 2015–2021 data).

You can download the full Propertymark report here April 2022 PRS Report

Source: Propertymark