July 9, 2010
Landlords Rents About To Soar
Average rents have risen a reassuring four percent in the last quarter, according to FindaProperty.com’s latest report.
And with the Bank of England warning of a coming mortgage famine, landlords could be see the number of first time buyers priced out of the market and heading for rented accommodation rise even further.
Rental prices asked for by landlords on findaproperty.com had fallen more than six percent between early 2008 and the beginning of this year.
But with a jump from £804 in January to a current rental of £839, experts predict the rental market is due another surge.
Nigel Lewis, property analyst at FindaProperty.com, said: “Rents have gone from strength to strength during the first half of 2010.
“The resurgence of the sales market has left tenants short of options and the result has been increasing rental prices.
“We're beginning to creep towards the equilibrium between stock levels and prices at which the market is perfectly balanced and neither party - tenant or landlord - can claim negotiating rights.”
