The average lettings agent stock has dropped 22% since pre-pandemic figures and rents over the last 12 months have increased on average by 3%, with 12 renters chasing every rental property that comes to the market.

This is great news for landlords and perspective landlords, because even given the current climate the demand for properties is huge and this is only set to increase over the course of the year.

Rental prices continue to increase across the UK and if the market shrinks and there are few rental properties available, this will likely lead to even more demand and again higher prices.

This article was written by Darren Barber, Lettings Manager.