Rents to rise throughout summer – agency’s warning

Rents to rise throughout summer – agency’s warning


Todays other news


Lettings chain Fine & Country says rents are likely to steadily rise through the summer.

Nicky Stevenson, managing director of Fine & Country, says this is typical for this time of year as more contracts come up for renewal and students finish exams and begin their property search.

“Prime market average rents have risen to £3,825, up 12.3 per cent year-on-year, a rise in all regions, with the exception of the North East and the South East. 

“According to Rightmove, demand continues to outpace supply, with renter demand up 42 per cent on 2019 and the number of properties to rent is down by almost half. Many renters are choosing to extend their contract rather than brave the open market, some with deals of three years or more. Data from Uswitch reveals that over a third of renters would both renew their contract and accept a rent increase if they had a positive relationship with their landlord.” 

She says that with the highly anticipated Renters Reform Bill now going through Parliament, agents should not two specific objectives of the measure – to eliminate Section 21 evictions and promote the adoption of periodic tenancies rather than fixed-term ones.

“The aim is to make the private rented sector safer and fairer for renters. Renters will be given two months’ notice for rent increases and the ability to challenge rent rises above the market rate for their home to stop excessive rent increases. Minimum housing standards will be established. 

“The bill also includes measures to benefit landlords, such as rights to reclaim possession, and the creation of a new online portal for landlords” Stevenson concludes.

Share this article ...

Join the conversation: Login and have your say

Want to comment on this story? Our focus is on providing a platform for you to share your insights and views and we welcome contributions. All comments are screened using specialist software and may be reviewed by our editorial team before publication. Letting Agent Today reserves the right to edit, withhold or delete comments that violate our guidelines, including those that harass, degrade, or intimidate others. Users who post such content may be banned from commenting.
By commenting, you agree to our Commenting Terms of Use.
1 Comment
Oldest
Newest Most Voted
Inline Feedbacks
View all comments
Recommended for you
Related Articles
Two amendments are being put to the Renters Rights Bill...
David Smith Weill be answering agents' questions...
The targets are high cost and must be met by...
A council wants to find out how it is doing...
The Welsh Government is backing the call for a 'compensation'...
There will be a greater emphasis on digitisation....
A consultation document is being released today....
Recommended for you
Latest Features
Two amendments are being put to the Renters Rights Bill...
David Smith Weill be answering agents' questions...
She;'s previously worked with LSL's Reeds Rains brand...
Sponsored Content
Tenants want a place they can call home—somewhere comfortable, safe,...
Letting agencies face the dual challenge of keeping both landlords...

Send to a friend

In order to send this article to a friend you must first login. Click on the button below to login or sign up.

No one likes pop-ups ...
But while you're here