Rental market update: 18 months of double-digit rental inflation š¹
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Key takeaways from Zoopla's latest Rental Market update:
š¹ Rents for new lets are up 10.5% over the year (12.2% a year ago)
š¹ Rental inflation has been in double digits for 18 months
š¹ Average renter has seen costs rise Ā£2,800 over last 3 years
š¹ The UK rented sector remains stuck in a period of low supply and high demand.
š¹ Affordability is the key influence on rental growth
š¹ Rents continue to outpace earnings and rental affordability is now the worst for over a decade
š¹ Rents for new lets expected to increase by 9% in 2023, then slow to 5-6% in 2024
For the full report and lots more graphs, click here š©
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