Rent in London is slowing, in the rest of England is increasing

Growth rates of rent for residential property in London slowed in comparison with the rest of the UK and this is happening against the background of falling supplies to the market new real estate for lease.

Only 8% of real estate agencies of London reported about the rise in rents in February, compared with 25% of agencies in the country. The fall of rent rates, in contrast, said 25% of agencies in London and 10% of agencies in the UK. These are the data presented ARLA Propertymark.

The supply of new housing continues to be problem number 1. In February the Agency reported that the number of new housing available for rent fell by 5% in February to 176 on average, one real estate office in February after rising to 193 in January , but it is still 4% higher than in February 2016.

The data also show that in February of prospective tenants per office real estate remained the same as in January – 34, but this rate declined slightly from February 2016 , when he was 37 and from February 2015, when he was 40 .

The fact that rising rents in London is slowing, a positive signal for potential tenants of residential property in London. However, the same cannot be said about residential properties in the rest of the UK. The ongoing process of growth in the rental market should be an alarming signal, as this will worsen the situation of tenants and complicate their chances to accumulate a Deposit for new housing. The situation is compounded by the fact that investors are deprived of tax benefits on mortgage lending , was also banned from taking Commission to agencies for the lease. Despite these measures, homeowners will look for ways to shift the financial burden to the tenant, which will inevitably lead to higher prices for rental.

® Helen Entree. 20.03.2017 G.

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