Renters are remaining in properties for almost two years on common, based on an trade physique.
Figures from Propertymark, which represents lettings and property brokers, mentioned renters are staying put for 23 months on common.
It mentioned an absence of accessible properties may very well be contributing to renters remaining in houses for longer intervals, with simply eight properties obtainable to hire on common per member department in March.
A median of 93 new rental candidates have been registered per member department in March, up from 78 in February.
As demand will increase, there are additionally indicators of extra landlords promoting up throughout the UK.
The common variety of landlords withdrawing their properties with a view to promote them stood at three per member department in March, up from two in February.
Rental costs are additionally on the rise. Simply over seven in 10 (71%) member brokers reported rents rising – a slight lower from 74% in February however considerably greater than a 12 months earlier when 60% reported rising costs.
Nathan Emerson, chief government of Propertymark, mentioned: “Our newest report reveals that tenants are staying in properties longer.
“That is partly on account of all-time low ranges of inventory, which means tenants have little or no selection when trying to transfer.
“They will even discover fierce competitors is pushing up costs of what’s obtainable, usually making it unaffordable to maneuver.
“When a rise in tenants staying put for longer happens, the churn of properties that might usually come again into the market begins to stagnate, feeding the problem additional.”
