Rent voids near four weeks despite strong tenant demand
12:01 AM, 16th October 2026, 12 hours ago
An industry body has reported a mixed picture in the rental market, with strong tenant demand coinciding with rising void periods.
According to Propertymark’s August Housing Insight Report, the average number of new prospective tenant registrations per member branch rose to 121.
The report also points to growing landlord frustration over new legislation and the difficulties of regaining possession of their properties.
A gradual increase in void periods
According to the data, properties continued to move through the market at a relatively steady pace, although average void periods had been gradually increasing.
Propertymark said: “A gradual increase in void periods may indicate that properties are taking slightly longer to secure new tenants, potentially reflecting changes in the balance between available supply and tenant demand.”
Despite this, Propertymark reported that around 10 prospective tenants were competing for each available rental property in August.
Although available rental stock had edged upwards, the organisation said competition for suitable properties remained a key feature of the market.
Its figures also showed an average of 9.92 new tenancies agreed per member branch during the month. Propertymark said this indicated that branches continued to agree a steady number of new tenancies despite the imbalance between prospective tenants and available rental homes.
Goodlord data reported by Property118 in October showed that average void periods fell to 20 days in September, down from 21 days in August. However, Goodlord’s figures come from a different data series to Propertymark’s and should not be treated as a direct comparison.
Competition remains intense for renters
Phil Spencer, founder of Move iQ, said: “Renters continue to face a very different experience.
“Competition for suitable homes remains intense, so getting finances and paperwork organised before starting a search can make the difference when an opportunity appears.
“At the same time, a gradual change in how long some properties take to let suggests that the rental market isn’t moving in quite one direction everywhere. The wider picture is one of a housing market in transition rather than one that has simply stalled.”
Tenants have the upper hand
Alongside the rental market figures, Propertymark agents warn that mounting frustration is prompting some landlords to sell up rather than continue letting.
A Propertymark member agent in the Home Counties said: “The market is stable, but very few new properties are coming onto the market.
“Landlords are very frustrated with the new legislation and the difficulty and time involved in obtaining possession of their properties. Tenants have the upper hand in all areas and know that they can, to a large extent, ignore the agreed terms of the original tenancy agreement without fear of being served notice to leave.”
Another Propertymark agent in the North West said: “Letting agents are losing business as landlords are selling due to the real short-term possibilities of tenancies. Landlords are unhappy to sell, but letting a property is no longer a financially viable option.”
Momentum remains uneven
In the residential sales market, the number of new prospective buyers registering per member branch dipped during August 2026, falling to an average of 69 per branch.
On average, each member branch placed around 10.8 homes on the market during August 2026.
Nathan Emerson, chief executive of Propertymark, said: “August’s figures show a housing market that is functioning, but where momentum remains uneven. The key issue for the industry is not a lack of activity, but the gap between what buyers are prepared to pay and what sellers are willing to accept.
“With more properties requiring negotiation, realistic pricing and strong local market knowledge are becoming increasingly important for agents managing expectations on both sides.
“Transaction timescales also remain a concern. A sale being agreed is only one milestone, and prolonged periods before exchange can create uncertainty for buyers and sellers and leave chains vulnerable to disruption.”
