16 Dec

Boost for tenants as rent drops in price

Boost for tenants as rent drops in price

Tenants across the UK, as well as those looking for property to rent in Gravesend, have received a boost with the news that rent costs have dropped after months of increases.

The latest figures from LSL Property Services have shown that the average cost of renting in the UK has dropped to £717 in November, a reduction of 0.4 per cent when compared to October.

It is also the first time since February that prices for renting have seen a reduction, after nine successive months of increasing.

The only three regions to buck the downward trend were the West Midlands, Yorkshire and London, where prices increased by 0.3 per cent.

David Newnes, director of LSL Property Services, said: "Landlords are looking to avoid having properties vacant over the Christmas period, and can be less aggressive with pricing as tenant activity slows in the run up to the new year."

It was reported earlier this week by e.surv that buying is now cheaper than renting, but with prices coming down, this may soon not be the case.ADNFCR-1222-ID-801242235-ADNFCR

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