Private Rented Sector Report February 2023

Private Rented Sector Report

Propertymark's monthly PRS review for landlords in Preston, Leyland, Chorley and Blackburn. It’s a brief one this month!

A steady stream of new prospective tenants

DEMAND – NEW TENANTS REGISTERED

The number of new prospective tenants registering per Propertymark branch held at 91 in February. This figure is very close to last spring’s average of 94.

SUPPLY – WHAT DOES STOCK LOOK LIKE

Stock remains steady

The number of properties available to rent per Propertymark branch remained steady at 9 in February.

This translated into an average of 10 prospective tenants registering per available property in February.

RENTS

Pressure on rents remains

50 per cent of responding agents reported rents increasing month-on-month on average at their branch in February, while 47 per cent reported rising rents.

Nathan Emerson CEO of Propertymark comments

“The lettings market remains very much out of balance however, with an average of ten registered applicants per property. As demand continues to outweigh supply, pressure on rents has eased slightly since the peaks of last summer but it has by no means gone away.”

You can download the full Propertymark report, including the sales market, here February 2023 Housing Insight Report

Source: Propertymark