UK property market could soon witness rent stabilisation
During the past one year, there has been a sharp fall in property and home rents. And tenants, who are looking for more reductions in their rents, may be unhappy, as it seems that landlords have already reached their limits.
Estate agents have suggested that properties which have a rent of £1,000 per week or more are taking some time to shift, while properties that fall under the £500 a week are already successful in attracting two or three bidders. Over the past year, the average rents have seen a fall by at least five percent.
Going by the latest trends shown by the property market, if the lower end bargain hunters are able to secure a reduction, they should consider themselves really lucky.
According to a leading property research firm, the supply of rental properties has exceeded by sixty five percent in the London area, as compared to the previous year. The demand has also increased simultaneously but only by twenty percent.
At the end of 2008, the Royal Institution of Chartered Surveyors did a survey that showed a razor-sharp fall in rents. Since then rents are still going downhill instead of rising up.
Of courses, the prices vary depending on the region and month. Over the past year, the North East has seen a rise by 2.2 percent while the North West seen the sharpest annual downfall of 13.5 percent.
Popularity: 13%
More News| Company Registration |
| Past Life Regression here |
Comments
Got something to say?
Latest Property Headlines
- Beautify your Bathroom
- Maintenance of the house
- It’s all in the detail
- Areas of the house to invest in
- New site for Morrisons
- The 2010 election
- Is Spring the best time to sell houses?
- Alternative energy for your house build
- Finding the right bargains
- Will the property market effect your election vote?