Private Rented Sector Report June 2022

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

Steady stock increase not enough to dampen rent inflation

SUMMARY

The average number of properties available for rent per member branch has been gradually rising over the past few months, but the vast majority (80 per cent) of responding agents reported rents continuing to increase month-on-month in June.

WHAT DOES STOCK LOOK LIKE?

Supply of available homes steadily rising

Propertymark members reported having 11 properties on average per member branch that were available to rent in June. There has been a steady increase in available properties since February’s low, however, agents reported to signing up 11 new tenancies on average per member branch.

NEW TENANTS REGISTERED

Demand steady

An average of 93 new applicants were registered per member branch in June. This number has remained fairly steady over the past four months.

RENT INCREASES

Rents continue to rise

80 per cent of member agents reported month-on-month rent prices increasing in June. Pressure on rents has been steadfast since spring last year.

Nathan Emerson, CEO Propertymark comments

“It is good to see a slight increase in stock levels this month, but with that being said, this barely scratches the surface on what is needed in order to limit the ever-widening gap between supply and demand.

There is a decreasing number of incentives for landlords to remain within the sector especially with the many incoming regulatory pressures on the horizon. We need reassurance from all Governments that they will address this increasingly pressing issue and in turn ease the pressure within the private rented sector.”

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

Source: Propertymark