LETTINGS NEWS: Good news for landlords as rent market stability confirmed
One of the most authoritative indices of the private rental sector suggests that average rents in the south west have remained almost unchanged over the past year.
HomeLet, which closely monitors the lettings sector, says south west rents rose 0.5 per cent in 2016. This is good news for landlords because it shows rents have not dropped despite a surge in the number of homes available to rent.
Early in 2016 – after landlords bought properties in a bid to beat higher stamp duty – there was an estimated four per cent rise in the number of homes available to let in south west England. This appears to have been roughly matched by an increase in tenants, too.
HomeLet predicts that rents are likely to remain stable throughout 2017, too.