Rents to rise 4% outside of London in 2017 forecast by Rightmove
The Rightmove Rental Price Tracker report released this week for Q4 2016 ( October – December 2016 ). Their forecast for 2017 is that rents to rise 4% outside London.
All regions except London recorded a rise in asking rents in 2016, with prices up annually by 3.0%, London recorded an annual price fall of 4.4%, which was most marked in Inner London.
Rightmove’s Head of Lettings Sam Mitchell looks ahead to the 2017 market: “This year will be one of caution for buy-to-let investors due to tighter lending criteria and increased stamp duty. We definitely won’t see the spike in Q1 purchases that we saw last year as landlords rushed to buy before last April’s new stamp duty deadline. If the tax changes being phased in from this April lead to even fewer buy-to-let purchases and some landlords deciding to sell, then a tightening of supply in some areas will lead to increasing rents. We forecast that asking rents could rise by 4% outside London by the end of 2017, though in London prices are likely to stay flat.”
Read the Rightmove Rental Price Tracker report (all regions) in full click here
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