Quiet optimism for UK lettings
The ARLA survey is conducted through the offices of member letting agents, the frontline of the private rented sector and the latest quarter shows that well over half (58%) believe that rents have stabilised or even risen. Nationally, a quarter (25%) of all agents believe that rents had risen at the end of February. Exactly a third (33.3%) believe rents have remained the same while 41.3% believe rents are down.
The rental market in prime central London is still having a disproportionate effect on the national average figures as only 5.3% of ARLA members in the Capital see signs of rents rising. 71.3% believe rents are down and 23.3% believe they have stayed the same. However, in the rest of the South East there is more optimism. A quarter, 24.3%, believe achievable rents are up, 35% that they have stayed the same and 40.8% believe them to be down. For a different picture, go to the rest of the UK. 43.5% believe that prospects are bright for rents with achievable rents rising. 40.6% believe they have stayed the same and only 16% believe they are down.