Latest research from an estate agents’ association reveals the most up to date figures of the rate at which the rented market is plummeting downwards.

Image credit: Pexels

The study highlights the number of properties agents were able to let out in the month of March over a four year period (2019 – 2022) which has fallen by a massive 50 per cent.

In the same period of those landlords who took their properties out of the market did so to sell them off, and in March agents selling rental properties reported that half of them were sold to home buyers.

A spokesperson for the association, says: “Our research presents a worrying picture for private renters.

“The number of properties available to rent has been diminishing with a large portion of landlords choosing to sell their properties. A lack of property is the root cause for rent increases and rising figures on social housing lists.

“We know from our qualitative research that the most common reasons for landlords to choose to sell their properties and no longer provide homes are around risk, finances and viability."

He continues: “Landlords and letting agents have been the subject of extreme legislation changes as the UK Government tries to improve the sector. However, without a middle ground, these changes are actually proving detrimental to those they are supposed to protect.

“Sadly we do not see this improving as the sector braces itself for more changes within the anticipated Renters' Reform Bill and upcoming energy efficiency targets.”