New data released by Propertymark shows limited improvement in the rental sector statistics – although not enough to stop demand outstripping supply, and triggering more rent rises.

Propertymark’s latest Housing Market Report says that in March the number of new listings of properties to rent showed a 12.7% jump. However the number of tenants registering with agents looking for homes has risen 7%.

This means that the average number of applicants per member branch is sitting at nine people for each available property in March. 

There’s also been just a very slight rise in the number of tenants in arrears – but even so, the total is still well below the level seen throughout 2023, and far below the long-term norm. 

Nathan Emerson, Propertymark chief executive, says: “A positive slight uplift in the number of properties for rent has been noted, and rent levels in some areas across the UK have eased, albeit this has been reported to vary from region to region. 

“As we move further towards the Renters’ Rights Bill being enacted by the UK government, it will be interesting to see how this translates with current supply and demand levels. For many years, an ever-growing number of landlords have removed their homes from the market due to increasing regulatory and financial pressures, which have played a part in rents rising.” 

And TV property market commentator Phil Spencer – writing in the same Propertymark report – states: 

“In the lettings market, it seems that very little has changed as tenant demand continues to climb month on month. Many renters will likely be struggling to compete for a home, and without a huge spur of investment soon, this trend is unlikely to end any time soon. 

“As with most sectors, wide-ranging support needs to be injected into the private rented market to meet demand and help bring down rents for the many people who rely on renting across the country.”