Rents fall as buyers become landlords
The Royal Institution of Chartered Surveyores reports that rents in buy to let properties have fallen for the first time since 2003.
The statistics come from the RICS Residential Lettings Survey Q£ 2008.
The report states: “In the three months to October, continued falls in house prices coupled with further tightening in mortgage lending conditions has turned more would-be buyers and sellers to the rental market.
“The rise in supply of new lettings relative to demand has led rental levels to decline for the first time since April 2003.”
November 21st, 2008 at 9:19 am
Supply and demand. It means that renters - who may have been evicted from their own properties - might now get a better deal in an otherwise inflated market.
December 11th, 2008 at 5:42 pm
Does anyone know if this is a) still the case and b) likely to continue?