Rent prices 'rose by 0.7% last month'

Thursday, April 1st 2010

Britons who rent property from landlords could expect to pay slightly more money each month, according to reports.

FindaProperty.com revealed on March 29th that there had been a 0.7 per cent rise in rent prices asked between February and March this year.

And there was a 4.2 per cent drop in the supply of rental property that month compared with the previous month.

Despite this, average monthly rental values remain lower now than in 2009, by 0.8 per cent, the website revealed.

Tom Entwistle, director at LandlordZONE.co.uk, said: "Demand from tenants, particularly in the south-east, is steady and could even be rising because of the difficulties in the recession."

However, a number of reluctant and new landlords have withdrawn from the buy to let market, he added.

In order for existing landlords to avoid being left with empty properties, they should research the situation and make sure any rents are pitched at the right level, Mr Entwistle continued.