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Number of available properties are at record low

Renters are facing record pressure when house hunting, with more than 28 prospective tenants for every available property. There is an average of just five properties to rent per letting agent branch according to Propertymark, a 44% drop from the four-year average. Agents in the North West of England and East Midlands reported the lowest stock, with an average of two available properties per branch. The number of prospective tenants reached an all-time high at the start of this year. Last month, the average letting agent branch had 142 renters looking for a home. There are typically more than 28 prospective tenants for every available rental property on the market. This is a record high for the month of February, as well as a 73% increase on February last year.

Daily Mail

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