This might suggest that despite the supply/demand imbalance, the extraordinary rent increases of the last period are coming to an end.

The tenant location wish list is also reflecting acceptance of greater commute times, as well as WFH flexibility. This is helping spread
demand over a wider area, which further takes the heat out of
rental pricing. 

Lettings Insight Report-Ident-Image-1

Despite the slight increase in June, the number of landlords pricing their property 10% above the market rate has decreased consistently since January 2023.

Lettings Insight Report-Ident-Image-2-1

Hello Neighbour is a UK property lettings company powered by technology – making home renting simpler, fairer and faster than ever before.

The insights in our reports are based on over 10,000 tenant enquiries; nearly 200 properties we onboard every month; as well as the 1,200 properties we already let and manage.

Download: Hello Neighbour | Lettings Insight Report | June 2023