The number of tenancy applications rose ‘dramatically’ as soon as the fees ban came into force in England, Belvoir has reported.

The franchise chain said that the first rise was in June, but continued into July, with tenancy applications up 32% when compared with July of last year.

Belvoir has also reported that in the second quarter of this year, rents rose across England, Wales and Scotland by an average of just over 4.5% compared with the same period in 2018.

CEO Dorian Gonsalves said that Belvoir offices reported high demand, and regulatory changes leading to reductions in portfolio sizes as the main reasons for rent rises amid a shortage of properties.

Gonsalves said: “The majority of Belvoir agents predict further rental increases.”

He said: “As uncertainty over Brexit continues, and tenant demand increases, we hope that the Government will consider a more joined-up and holistic approach to the rental sector, which will help to increase the supply of properties introduced to the market.”

Gonsalves said the situation was particularly severe in parts of London, with serious stock shortages.

He went on: “During the past 11 years average London rents have increased by about 4.8% per year.

“This increase is ahead of average inflation of 3%, but, being a capital city with affluent individuals seeking accommodation, and a market that is experiencing stock shortages, the rise is inevitable.

“Outside London, average monthly rents range from £629 and £638 in the north-east and north-west respectively, £771 in East Anglia and £783 in the west midlands, through to £1,155 in the south-east.”