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.

Housing activity stagnates despite stamp duty cut

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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