Propertymark's monthly PRS report for landlords in Preston, Leyland, Chorley and Blackburn
Average length of tenancies increase
Data collected from Propertymark’s members for its March Private Rented Sector Report continues to indicate signs of ongoing disparity in supply and demand with tenants remaining in their properties for longer periods of time. This could be contributed to the hike in rental prices and lack of stock available to move elsewhere making it often unaffordable or unachievable to move to a new property.
What does stock look like?
An average member branch reported having just eight properties that were empty and freely available in March. This figure has improved since February’s figure of five.
New tenants registered
An average of 93 new applicants were registered per member branch in March which has increased significantly compared to 78 per branch recorded in February.
Exiting the sector
The UK average number of landlords that withdrew their properties in order to sell them stood at 3 per member branch in March which is an increase from 2 in February.
71 per cent of member agents reported rent prices increasing which is a slight decrease from 74 per cent in February but is still significantly higher than the same time last year which stood at 60 per cent.
You can download the full Propertymark report here March 2022 PRS Report