Need to rent from the prospective tenants of residential property in the UK rose in August 2016 and at the same time decreased the supply of new apartments and houses in England on the rental market. A new study conducted by the Association of Residential real Estate in the UK, reflects the positive mood in the rental market, despite the decision of the British to withdraw from the European Union.
Every Agency of the United Kingdom as at the end of September has an average of 37 registered potential tenants who are looking for a place to live, this is the highest figure since June of 2016.
The demand for rental cooled off a bit in the first three months of 2016. So, in January 2016 for each office accounted for about 31 potential customer. But now the demand has increased significantly.
However, research has shown that tenants are willing to pay more, and the majority of tenants in August, successfully negotiated for lower rents. Overall, the study showed that 12% of respondents said the rent increase 11% – about the reduction and 72% said that rents have not changed. That is, the market lives a normal life, without showing anything extraordinary.
The continuous rise in rents, especially in the market of real estate in London and other major cities is a big problem for the market. The fact that tenants have started quite successfully to negotiate a rent reduction, suggests that the rental market in the UK is taking its first tentative steps in the direction of improve the availability of the lease.
® Helen Entree. 20.09.2016 G.
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