Lettings

Buying agency Haringtons is reporting "a huge influx" of demand for large furnished rental properties in prime London, as families are forced out of their homes by the recent flooding.

Highest number of new applicants on record has coincided with a big fall in new instructions.

Letting agents reported a record number of new prospective tenants per branch in June, according to Propertymark.

After steep falls over the last year, the agency expects rents across the prime postcodes will recover to pre-pandemic levels by 2023.

Key indicators including the average discount on re-lets and the time taken to find a tenant have both been falling.

Rental properties are finding tenants faster than ever before, reports Rightmove, as record demand pushes price up.

‘Lockdown deals’ are no longer a feature of the market, reports Savills.

Faltering supply continues to underpin house price inflation across the UK, reports the Royal Institute of Chartered Surveyors.

New applicant numbers last month were nearly double the levels seen in 2019, reports Knight Frank.

After hitting a five-year high in February, landlord purchases in May fell back to the record low levels seen in 2019.

Propertymark member branches have an average of 97 tenants on their books, up from 82 in April. It's the highest figure on record for the month of May, significantly higher than last year's 70.