Rent growth slows

We have been warning landlords that the largely reported myth of spiralling rents would soon be exposed. Away from the Westminster Bubble and the billionaires living in Knightsbridge the rest of us in 'main street' UK know that rents have not been if a Landlord was lucky keeping track with inflation but no more.  Property Hawk's Rentindex reveals that rents are flat in monetary terms year on year even if there has been the expected seasonal adjustment that occurs during the Spring & Summer letting market.  Government figures on rents provided by the ONS show that rents are only up 1% over the year.

FT reveals rents reverse

The latest rent figures featured in the FT reveal the reality that rent rises across England and Wales have slowed to their lowest annual rate in over 4 years.  The data provided by LSL Property Services also showed that rents in March were only 0.9 per cent higher than a year ago.  This is the slowest growth rate since January 2010. The figures from LSL show that the average rent now stands at £741 per month. On a monthly basis, rents actually fell by 0.2 per cent between February and March.

Property Hawk View

It will be interesting to see if any of the Labour Politicians are listening to the facts that rents across the UK are flat or falling (in real terms) before they continue on their crusade to bash landlords for exorbitant rental increase or will they just put it down to an inconvenient truth!

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