Market demand still strong for renters

Propertymark’s latest Insight Report shows that tenant demand jumped year on year, with the average number of new prospective tenants registered per brand member at 100 in February 2025. However, the average number of properties available for rent dropped to 10.41 per member branch in February.

Demand continues to outstrip supply, with the average number of applicants per member branch sitting at 10 people for each available property in February 2025, while the number of tenancies agreed remained broadly static compared to the month before.

When it comes to rents, in February 2025, the average UK rents were 8.1% higher than in February 2024 and 0.4% higher than in January 2025. The length of void periods was also static in February.

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