Property News · March 13, 2017

UK average annual rents fall for first time in six years


Buying frenzy ahead of 2016 stamp duty hike pushed up supply of new homes for letting by 10%, Countrywide figures show Rents in Britain have recorded their first annual drop for six years, according to the UK’s biggest estate and lettings agency.In February, the average rent in Britain was £921 a month, £5 lower than a year earlier, and the first annual decrease since 2011. Countrywide, which compiled the figures, said the buying frenzy ahead of the hike in stamp duty last year pushed up the supply of new homes for letting by 10%. Meanwhile tenant demand has been dropping, particularly in London, possibly related to Brexit. Continue reading…

Source : theguardian.com
Read more…UK average annual rents fall for first time in six years

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