Higher borrowing costs force a ‘change in strategy for landlords’

Landlords who sold a property in 2019 typically owned it for 9.1 years and sold it for £78,100 more than they paid for it.

'Renters may need to change tactics in the coming year, setting aside more time for their property search and preparing to move fast when they see something they like,' says Foxtons.

Propertymark has seen a slight improvement in the number of homes available to rent - but tenant demand still far exceeds supply.