11 May

Landlords 'to benefit from higher rents'

Landlords 'to benefit from higher rents'

Landlords could soon see that they are making more money through rental payments, according to one industry professional.

With the number of properties available on the rental market falling in number, it has been suggested that rent increases are imminent.

Jane Ingram, head of lettings at Savills, said this will be particularly evident at the lower end of the market.

"The cheaper stock is holding firm and in some cases we have seen people offering above asking price, but that is very much at the lower end," she explained.

Ms Ingram also revealed that she has noted how landlords who have interests in both the sales and lettings market are choosing to sell rather than rent out their homes at the moment.

Her comments come after the Residential Rental Price Index from Rentright indicated that the average rental price fell to £585 in May 2009 - down from £670 in April 2009 and £683 one year before.

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