Less available places to rent could see prices rise ‘by at least 25%’, report says
Why UK rental prices could rise by 25 per cent in three months
- The flow of new rental properties coming to market has fallen at its fastest rate in five years, with 31 per cent of surveyors reporting a decline in landlord instructions.
- This sharp reduction in rental supply is anticipated to push rental prices up by 25 per cent over the next three months, despite tenant demand holding steady.
- The sales market experienced a downturn in July, marked by a fall in new home buyer inquiries and a net balance of 16 per cent of property professionals reporting decreased sales.
- House prices are showing a slight downward trend nationally, with 13 per cent of professionals noting falls, though prices continue to rise in Northern Ireland, Scotland, and the North West of England.
- While the average two-year fixed-rate mortgage has dropped below 5 per cent, the housing market remains "particularly price sensitive" amid ongoing economic uncertainties.