x
By using this website, you agree to our use of cookies to enhance your experience.
STAY CONNECTED!
    
newsletter-button

Nearly half of tenants expecting rent rises

11 August 2010
Written by rosalind renshaw

Nearly half of all tenants are expecting rents to rise in the next 12 months. The proportion (45%) is up 12% on this time a year ago.

Rightmove’s latest quarterly survey of the private rented sector also shows that available rental stock held by agents has dropped 20% over the year.

A majority (57%) of tenants would like to buy, but cannot afford to do so.

Miles Shipside, commercial director of Rightmove, said: “Many renters are caught in a ‘rental market crossfire’, taking financial hits from all directions. Not only can they not afford to buy, but they are about to feel the pinch as rents look set to rise too.

“As well as being negatively impacted by the new Government’s austerity measures, they are likely to have to compete harder and pay more for the dwindling choice of rented accommodation.”

But he said that landlords had also been caught by tight lending conditions, meaning that those who would like to add to their portfolio are unable to do so.

Comments

Breaking News
MovePal MovePal MovePal