---
title: "UK Rents Rising: Chronic Lack of Rental Stock Increases Pressure on Tenants"
description: UK tenants feeling the pressure as rents continue to rise due to chronic lack of rental stock. Learn more about the issue and how to cope with it on this blog.
---

[Blog | Magnate Assets](https://blog.magnateassets.com)

# [UK Rents Rising: Chronic Lack of Rental Stock Increases Pressure on Tenants](https://blog.magnateassets.com/chronic-lack-of-rental-stock-increases-pressure-on-tenants-as-rents-continue-to-rise-in-the-uk)

 Written by [Keith Egan](https://blog.magnateassets.com/author/keith-egan) | Apr 19, 2023

This Spring, Fine & Country is expecting rental growth to remain strong, with the average London prime market rental now £3,762pcm, up 14% year-on-year. London is particularly thriving, with the annual prime rental growth standing at 21%. This is due to the widening supply-demand imbalance in the market, and the fact that private rented housing supply has only grown 1% since 2016.

It has been noted that properties are being snapped up quickly; 63% of agents saying they take less than a week to go from listed to let, and 39% citing stock levels lower than a year ago. Despite a slight slowdown from its peak of 12.3% in mid-2022, rental inflation is still outpacing earnings growth, with average rents for new lets having increased by 11.1% in the last year. 

“Sigma Capital report that in the same period net happiness amongst renters has dropped 8%, with 37% of renters concerned about security of tenure. These results highlight the need for more comfortable, affordable renting options, particularly considering the uncertainty amongst renters and the ongoing cost of living crisis.”

[View full post](https://blog.magnateassets.com/chronic-lack-of-rental-stock-increases-pressure-on-tenants-as-rents-continue-to-rise-in-the-uk)

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