19
Oct
People looking to rent 'as economy stabilises'
It has been claimed that many people are looking at property to rent in Ipswich and other areas
instead of buying houses.
According to Chris Horne, editor of Property Hawk, rental prices
are stabilising as the economy calms down and begins to recover
from the recent recession.
This means that "things have definitely picked up, certainly in the
last three months" as accidental landlords exit the market and sell
their properties.
As a result, Mr Horne states that the rental stock is being reduced
and average rental prices are "firming up".
"Most landlords are still generally being quite cautious and they
are really concentrating on making sure they have got tenants in
and reducing any void period," he explains.
Mr Horne's comments come after the daily updated Rent Index
revealed at the end of last week that the average monthly rent in
the UK has increased by 1.24 per cent in the last month –
taking it up to £598.42.