Rents are increasing at the fastest rate in five years, and the signs are that they will rise further, unless significantly more is done to boost the supply of much-needed rental homes.
The latest Office for National Statistics figures show that the average newly advertised rental price has reached £969 a month following gains across the UK.
Sarah Coles, senior personal finance analyst at Hargreaves Lansdown, said: “Rents are rising faster than any time in the past five years, forcing tenants to choose between squeezing their spending even harder, or uprooting their life. Either way, they’ll end up worse off.”
Conscious of the widening supply-demand imbalance and the impact it is having on the private rented sector (PRS), the Association of Independent Inventory Clerks (AIIC) is now calling on the government to include the provision of more new rental homes in all parts of the country, as part of its levelling up agenda.
Read the full article on Property Industry Eye | MARCH 4, 2022 | MARC DA SILVA
Estate Agents
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