A shrinking supply of properties is partially down to government measures in the letting sector. This has led to rent rises.
Stamp Duty surcharges on buy-to-let homes and the removal of mortgage interest tax relief for landlords have played a part in the shrinking sector. This could also have been hampered by the drop in tenant demand post-Brexit.
The South West is the only region that has not seen rent rising at the same level as other regions. Whilst the East of England, South East and North Wales saw growth of more than 3% in the last year, increases in other regions has not been so great.
By comparison rents in the South West were down 2.2 per cent.