“Shortage of stock is continuing the upwards pressure on rents”

Jeremy Leaf, north London estate agent and a former RICS residential chairman: 

“Shortage of stock is continuing the upwards pressure on rents at a time when students are adding to tenant numbers.

“The burden of higher mortgage rates, as well as tax and regulatory issues are persuading landlords to quit the sector, which is not helping keep rents in affordable territory. 

“However, we have noticed the difference between the rents charged on new tenancies and those who are renewing existing arrangements as tenants are reaching an affordability ceiling.

“Landlords recognise the importance of reliable, long-term tenants rather than maximising their returns unless, of course, their costs are getting out of hand.”