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