Rental market update: rents grow faster than earnings for last 21 months in a row 😲
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Annual rental inflation is up 10.4% year-on-year, with rents taking up the highest proportion of earnings in a decade at 28%
Latest research from Zoopla shows that...
🔸 Rental inflation running in double digits for 15th consecutive month
🔸 No let up in supply/demand imbalance as we enter busier summer period when demand typically increases by up to 40%
🔸 Rents have grown faster than average earnings for last 21 months
🔸 Rental costs as a proportion of earnings reach highest for a decade (28%)
🔸 Inevitably, there is emerging evidence of growing stress for renters on lower incomes
🔸 Higher mortgage rates hit 20-30% of Landlords with largest loans
For more information, graphs, charts and a rental outlook - read Zoopla's article in full here.
Is your rental property fulfilling its potential? For a comprehensive 'Tenancy MOT' by our expert team, email Associate Director scott.sneath@cavendishproperty.co.uk for the best advice.
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