Pace of rent rises lowest since 2014

Mortgage Introducer

January 11, 2018

Rents rose by just 0.7% in 2017 – the lowest rate of increase since 2007, Rightmove data shows.

Asking rents in London rose by 1.2% over that time, while they rose by 3.3% in the North East.

Meanwhile rents fell in the South East and Yorkshire and the Humber.

Miles Shipside, Rightmove director and housing market analyst, said: “Nationally rents have been holding pretty steady over 2017, retaining the 3% plus rises seen in both 2015 and 2016, and adding a more modest 0.7% in the last 12 months.

“Increasingly stretched tenant affordability, and the surge of buy-to-let property supply beating the stamp duty tax hike deadline, have acted together to mute landlord pricing power.

“In contrast, after a few years of falling rents in London they’re back on the up again, due to a combination of tightening stock available to rent and strong demand.”

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