Rental Prices Rise Over Summer
29 October 2009
UK rental prices throughout September and early October have remained relatively steady, with a solid increase in rental prices of approximately 1.2% since April 2009, particularly for flats. Although the increase is slightly lower than the previous 3 months, the signs are nonetheless positive, with many Landlords taking a long term view of the rental market. London has lagged behind the rest of the UK in recent months, but is also showing positive signs of recovery, with average rents up 0.6%. The capital asset values for houses and flat in London have risen by almost 10% over the past few months, itself stimulating the growth in rental prices. The balance between supply and demand in rental properties has drastically changed over recent months, with the number of registrations greatly outstripping available properties, making this a perfect time for landlords to take advantage of the huge stock of prospective tenants we have available. The Autumn surge, resulting from the start of the academic year and people coming into the job market for the first time, has seen the biggest take ups at the lower end of the market whilst demand at the highest end of the market remains weaker. The average void period in the UK is now 28 days, while we now maintain an impressively low void period of only 4 days.

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