26 Mar

Rental levels 'should stay stable'

Rental levels 'should stay stable'

Private rental levels are stabilising and should stay that way, it has been suggested.

Commenting on recent falls in the average level of rents, the editor at Property Hawk Chris Horne said: "Whilst we saw quite a significant drop towards the end of last year, [in] the beginning of this year, rent seems to have actually recovered."

Particular areas with a "glut" of people making their homes available to let because they cannot sell them, plus locations with oversupply such as inner cities with many apartments are ones where the problem is likely to linger, he stated.

He added that there should be an "equilibrium" developing as any continuation of a depressed sales market will hold back first-time buyers, thus bolstering demand.

Figures from the Gumtree rental index indicated a 2.2 per cent drop in rental values during the first quarter of this year, while these fell by 5.3 per cent in the past 12 months, according to propertyfinder.com.
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