Rents continue to rise albeit at slowest rate since 2021 ā¬ļøš
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Rent report from Rightmove's Rent Price Tracker:
šø Average advertised rents outside London hit a 19th consecutive quarterly record of Ā£1,344 per calendar month (PCM)
šø That's up 5.2% from last year, although this is the slowest rate of growth since 2021
šø The balance between supply and demand continues to improve compared with last year, but Letting Agents are still very busy with high numbers of tenants looking to move
šø The average number of enquiries per rental property is now 15, down from 23 last year, but
nearly double the 8 recorded in 2019
šø Available supply has increased by 13% year-on-year, though it is still 27% below 2019 levels, highlighting continued pressure on rental availability
šø More than a fifth of rental properties are currently seeing a reduction in the advertised rental
price before finding a Tenant, compared with 16% last year
šø It appears some landlords are bracing for a potential Capital Gains Tax rise in the Autumn budget, as well as new EPC regulations, with a record proportion of former rental homes currently on the market for sale
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šø Lisa Dahl-Parsisson, Head Valuer and Asset Manager at Cavendish Residential šø
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