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Thursday, January 11, 2018

UK rents up 0.7% over 2017 - Rightmove

Average UK rents rose by just 0.7% during 2017 according to Rightmove data.

The greatest increases were recorded by the North East region at 3.3%, but the South East and Yorkshire and the Humber actually recorded fall over the course of the year.

Rightmove's Miles Shipside reflects on 2017 rents: 

“Nationally rents have been holding pretty steady over 2017, retaining the 3% plus rises seen in both 2015 and 2016, and adding a more modest 0.7% in the last 12 months.

Increasingly stretched tenant affordability, and the surge of buy-to-let property supply beating the stamp duty tax hike deadline, have acted together to mute landlord pricing power.

In contrast, after a few years of falling rents in London they’re back on the up again, due to a combination of tightening stock available to rent and strong demand.”

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