Rents continue to rise
Homelet figures show rising demand and restricted supply having an inevitable effect on rents, up 1.8% on the year nationally, and a more significant 4.7% in London. It’s something of a perfect storm for the private rented sector, with economic and political uncertainty discouraging major economic decisions from potential first-time buyers, and landlords reluctant to increase portfolios for the same reasons plus recently increased tax burdens. Commentators warned the Government that rent hikes would be inevitable after the tax changes… looks like they were right. Homelet report here.