Declining rent prices 'set to moderate'

News Category: Industry News

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Landlords have been advised that the rental sector could be set for recovery despite further declines in average rent prices.

Figures from the Rics Lettings Survey have revealed that 85 per cent of surveyors in London saw a fall in rents in the last month due to tenants continuing to be able to negotiate low prices in a congested market.

However, there was also a continued rise in demand for rental property, as well as increased signs of vendors being able to find buyers instead of turning to rentals.

As a result, an increasing number of surveyors are expressing more positive expectations for the rentals market in the near future.

Rics spokesman Jeremy Leaf said: "The downward pressure on rents should ease in the coming months providing some good news for landlords."

Earlier this week, new figures released by Arla revealed that an increasing number of landlords are looking to capitalise on current low property prices and invest in expanding their property portfolio in anticipation of future market improvement.

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