Nine applicants chase each available rental flat or house

Propertymark reports an average of nine applicants per rental property, reflecting high demand in the private rental market, although this is an improvement from two years ago. Despite significant rent increases, rent arrears remain stable.

In January 2025, the average number of new tenancies per agency branch rose to eight, with 12.3 rental properties available per branch—similar to late 2024 levels. Propertymark’s chief executive, Nathan Emerson, warns that increasing demand combined with stagnant supply could push rents higher without government support to retain landlords and attract investors.

On the sales side, each agency branch saw an average of 87 new prospective buyers register in January, with 10.5 homes listed for sale and a notable 20% rise in completed sales compared to January 2024. Each home had an average of 2.5 viewings, indicating strong market activity.