Less rental stock coming on to market as landlords take flight?

Rents in London, the north-east and Wales fell in the year to August, but rose in all other seven regions.

A new report from Your Move says that in the last 12 months, rents in London dropped by 1.4% but still remained by far the most expensive in the country at £1,272 per month.

In the north-east, rents dropped 0.7% in the year to August to stand at £535, while in Wales the average rent fell just 0.1% to £588.

The biggest rent rises were in the south-west, where rents rose 4.1% to reach an average of £686.

Your Move lettings director Martyn Alderton said there appears to be less rental stock available this year.

He said that this could be the result of tenants staying in their rental properties longer, or landlords choosing to exit the market in the light of legislative changes.

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One Comment

  1. PossessionFriendUK39

    I think, Both.

    Tenants are becoming accustomed that reasonable property  at an affordable price is not in abundance,  AND yes – connected to fact that Gov’t actions have forced increase in Rents as well as Landlords exiting the market.

    and MHCLG can’t see this coming !

    Report
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