Anthony Martin Kent’s leading Estate and Letting Agent has seen a max exodus of private landlords, mirroring the 40% reduction quoted in the national press. What is the effect of heavy government interference?   

The cost of privately renting a property in Kent has increased considerably in recent months due to a dramatic decline in the number of properties on the market.

Landlords in Kent are desperately needed to fill the gaps in the private rented sector, but government punishments have scared off investors 

Today, Tuesday 21st June, there are 2,319 properties for rent in Kent however, it is suggested that for every property on the market, there are three to five households looking to rent it meaning that rental costs are being pushed up by the huge demand. 

In Kent, the average monthly cost to rent a two-bedroom house is £1,284, this is an uplift of over 15% compared to pre-pandemic times. 

The average price of a rental property in Kent is now £1,284

But why are rents increasing so much?

Changes in lifestyle - In a pre-pandemic world, different factors are now top of the priority list when it comes to property. With hybrid working and a stronger work-from-home culture, many people have made the decision to flee London and relocate to Kent thanks to the county’s fantastic rail and road links, therefore increasing demand. 

Changes in legislation - In a quest to “improve the property industry”, the UK Government has introduced higher taxes and more legislation for landlords, making property investment and renting homes less desirable. A recent report by Propertymark found that 94% of rental properties pulled from the market between March 2019 and March 2022 were due to landlords selling up. This led to a fall of almost 50% in the number of properties to rent.

Changes to legislation have led to a rise in rents and the number of properties dramatically falls

Founder & CEO of Anthony Martin Estate Agents Mr Martin explains “The private sector plays a crucial role in providing housing in Kent, London and the whole of the UK, I would employ ​​The Rt Hon Stuart Andrew MP to review the Government strategy and end this crusade against the private rented sector. 

As supply and demand continue to be unbalanced it is predicted that we are yet to see the end of rent rises and low stock meaning that should you find a property that suits your needs, act fast. 

Anthony Martin Estate Agents are a multi-award-winning agent for lettings in and around Kent and although listings are few and far between, the team has an excellent reputation for securing high-quality tenants for their landlords efficiently and professionally. So, if you’re looking for a new agent to let your property or, you have a property portfolio that needs management why not speak to the team at your local branch today.

Anthony Martin Estate Agents is an award-winning Kent sales and letting agent.