19 Oct

People looking to rent 'as economy stabilises'

People looking to rent 'as economy stabilises'

It has been claimed that many people are looking at property to rent in Ipswich and other areas instead of buying houses.

According to Chris Horne, editor of Property Hawk, rental prices are stabilising as the economy calms down and begins to recover from the recent recession.

This means that "things have definitely picked up, certainly in the last three months" as accidental landlords exit the market and sell their properties.

As a result, Mr Horne states that the rental stock is being reduced and average rental prices are "firming up".

"Most landlords are still generally being quite cautious and they are really concentrating on making sure they have got tenants in and reducing any void period," he explains.

Mr Horne's comments come after the daily updated Rent Index revealed at the end of last week that the average monthly rent in the UK has increased by 1.24 per cent in the last month – taking it up to £598.42.ADNFCR-1222-ID-19415723-ADNFCR

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