Rental supply fell in August while the number of tenants looking to rent increased, worsening the gap between demand and supply, Propertymark research shows.
The number of properties available to rent per member branch dipped in August to an average of just 11.
Meanwhile there were 197 prospective tenants registering compared to 149 in July 2022.
Nathan Emerson, chief executive of Propertymark, said: “There has been little urgency from governments across the UK to address the supply and demand issue by incentivising investment for landlords.
“We continue to see this gap widen as more people come to the market to look for a home, with very few properties available to rent.
“This continues to put pressure on rents as 68% of our member branches felt rents have risen compared to last month.”
It’s a different trend in the sales market, as supply for sale increased by 29% in August, to 45 per branch.
The average number of new prospective buyers registered per member branch rose to an average of 81 in August, from 64 in July 2023.
