22 May

UK rents start to stabilise

UK rents start to stabilise

UK rents appear to be stabilising, according to new data.

The latest figures show that during April the average advertised rents held steady at £994 per month.

Although this is 2.81 per cent higher than 12 month ago, only three regions experienced any increase during the month- Scotland, the south east and the West Midlands.

London again reported the highest rent at £2,257, while rents in the Yorkshire and Humber region decreased by £20 during April.

"This month it is all quiet on the rental front for most regions in Britain. While rents have dipped minimally in nine regions in Britain, this is no cause for concern as reductions are minor and this is an indication the rental market is finding a natural balance after a period of continued rises," said Robin King, director of Move with Us.

He added that landlords and letting agents in the south east could be set to see increasing interest from commuters who are forced out by the high rents in central London.

The Intermediary Mortgage Lenders Association recently claimed that around 50 per cent of UK homes could be privately rented by 2032.ADNFCR-1222-ID-801722359-ADNFCR

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