Lettings sector to see 'stable rent levels'
News Category: Industry News
Published: 26-Mar-2009
This article was brought to you by Rentman the premium rent management software
The residential lettings sector is set to see rents remain fairly stable in the long term, according to one industry expert.
Companies using rent collection software could find that the difficulties first-time buyers have in affording a mortgage deposit ensure demand for lettings in the UK will stay strong.
Chris Horne, editor at property advice website Property Hawk, said that people find it hard to get on to the first rung of the property ladder.
However, despite these views, Mr Horne acknowledged that rents have dropped in some areas of the UK in recent months.
"Because of the credit crunch and the problems with the job market in the city, there are certain areas within central London that have seen their rents hit quite significantly," he explained.
This is particularly relevant in regions where there is an oversupply of flats to rent, the editor added.
Mr Horne's comments come after the Gumtree Rental Index found that average rental prices in the UK had dropped by 2.2 per cent in the first quarter of 2009.
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