Rent increases continue to decrease in November says ARLA
Press release including November Private Rental Sector (PRS) report from ARLA on Monday 19th December headlined ‘Eight in ten letting agents expect rents to rise next year’
The report leads by stating: In November, the number of tenants experiencing rent increases continued to decrease, at 16%, a decrease from 18% cent in October.
David Cox, Managing Director, Association of Residential Letting Agents (ARLA), said: “The number of rent hikes reported by letting agents continued to decrease in November, and it’s a shame the ban on letting agent fees will have the opposite impact on rent prices when the measure comes into force. The BTL market is becoming less attractive for investors as the ban on fees, combined with the scrapping of mortgage interest relief and the stamp duty increase on second homes push costs up for landlords. So unfortunately, regardless of the uplift we saw in supply this month, we expect to see the number of properties available to rent fall next year”.
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