Rental Demand Intensifies as Supply Tightens Further

Propertymark’s latest Insight Report highlights a continued imbalance between tenant demand and available rental stock. In February 2025, the average number of new prospective tenants registered per member branch reached 100, reflecting a sharp year-on-year increase in demand.

Conversely, the supply of rental properties has tightened further. The average number of homes available to let per branch dropped to just 10.41 in February, creating a highly competitive environment for applicants. With demand significantly outweighing supply, the average number of tenants competing for each available property now stands at ten.

Despite these pressures, the number of new tenancies agreed remained broadly consistent with the previous month, suggesting that availability, rather than appetite, is the limiting factor.

Rental values continue their upward trajectory. In February, average UK rents were 8.1% higher than the same time last year, and 0.4% above January’s level. Void periods, a key measure of rental market fluidity, remained unchanged over the month.

At Rawlinson Gold Pinner, we continue to see strong interest from prospective tenants across North West London, yet the shortfall in available stock remains a challenge. For landlords, this environment presents an opportunity to secure quality tenants quickly and with minimal downtime. For tenants, realistic expectations and swift decision-making are more crucial than ever.