Latest index suggests rent stabilasation in UK

Latest index suggests rent stabilasation in UK

Letting agents may be happy to hear that UK rents appear to have stabilised after a dip in October, according to the latest HomeLet Index.

Renting costs were down by 4.6 per cent on average last month, however, historically rents remain stable.

The downward turn could be the result of an annual trend, as the previous year also saw similar activity in October. HomeLet cites the significance of students moving into high yield properties around this time as a factor for rent stabilisation.

“Historic data from the HomeLet Rental Index shows from October 2010-2013, average UK rents increased less each year, after rising by 5 per cent in 2011, 3.3 per cent in 2012 and 2.7 per cent in 2013,” said Gary Abraham, HomeLet's sales and marketing director.

He went onto say that the same was true regarding London rental properties.

Figures suggest that the Build to Rent scheme may also help inject vitality into the private rented sector, as more buy-to-let homes will become available in the property market.ADNFCR-1222-ID-801660986-ADNFCR

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