Landlords see slight rise in rent prices
News Category: Industry News
Published: 29-Oct-2009
This article was brought to you by Rentman the premium rent management software.
Landlords are beginning to enjoy improved market conditions, with rents rising and properties being let more quickly, according to new statistics.
The stock of rental properties fell ten per cent between September and October, but rents rose by an average 0.1 per cent, the sixth month in a row they have risen or stayed at a stable level.
According to the FindaProperty.com Rental Index, properties are now typically being let after spending around 58 days on the market, the shortest period since the start of 2009.
Michael O'Flynn, FindaProperty.com director, said: "Those who have managed to hang on in the rental market, despite a dramatic oversupply of properties, falling rents and rising unemployment among tenants, are now breathing a sigh of relief."
In September, a Rics letting survey found that demand for property was increasing from tenants, with 12 per cent more chartered surveyors recording an increase in people looking for a place to rent.
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