Sunday, August 18, 2013

Different trends of rental properties and their rents

Different opinions have been seen on rental properties and an increase in their rent. According to a survey, only in London there is a rise of 26.4% rise in available properties. But with increasing number of properties, the rents still are rising.
The research was also supported by a survey of Council of Mortgage Lenders which shows a rise in mortgage lending to first time buyers in five years i.e since 2007.
The average London rent is now almost £1,300 a month, although rents in the south-east outside London have fallen to £841, down from £851 last year.
However, despite more competitive buy-to-let mortgages encouraging investors to expand their lettings portfolios and increase the supply of rental accommodation on the market, there are still on average two to three tenants for every rental property.
This up and down trend will continue until demand and supply evens out.

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