|The number of tenants who are experiencing rent rises in the UK has fallen
for the second month in a row, according to the latest data.
says that 37% of letting agents say landlords had not put the rent up,
compared with September's figure of 40%. In August, the figure was 48%.
It's also 13% lower than in October last year when 50% of agents said
landlords had increased rents.
Arla Propertymark's president, Angela Davey, said: "The figures are a
testament to letting agents continuing to support landlords and tenants
during a pandemic with rent rises continuing to fall.
"As the UK experiences continued regional restrictions and lockdown
measures, it's essential tenancies are maintained to keep the rent flowing
and the private rental sector's stability is the key to the economy
bouncing back from the impact of the coronavirus pandemic."
Number of prospective tenants has risen
The figures from Arla Propertymark also reveal that the number of
prospective tenants has risen to a record figure for October.
They say there are 88 new tenants per branch on average with agents in the
West Midlands enjoying an average of 173 new tenants, the highest number
registered per branch.
The lowest figure is for agents in Scotland, with an average of 30 tenants
Arla also reveals that the number of properties that are being managed has
risen to 213 properties per letting agent branch. That's up from
September's figure of 193 and is an all-time high for October.
The organisation has also revealed that the number of landlords who are
selling up a BTL property has fallen to four in October, down from
September's figure of five.
The managing director of Accommodation for Students, Simon
Thompson, said: "It's good news that landlords are supporting tenants
during these difficult times, and it is good news too that landlords appear
to be settling in for the long haul and not selling up."
Where landlords can find the best yields after lockdown
Meanwhile, a new league table has revealed where the best areas in the
country for yields.
The figures come from Rentround, a comparison site, which
shows that Sunderland is topping the table with 5.3%, followed by Liverpool
However, the site reveals that both cities have seen reductions in the
average rental yield that landlords enjoy from when the first lockdown was
lifted to today.
In third place for best yields is Blackpool on 4.58%, followed by Cleveland
on 4.55% and Swansea is returning yields of 4.53%.