7
Jun
Residential rents fall by 4.3% in May, data shows
The average residential rent in the UK fell by 4.3 per cent in May
when compared to the previous month, according to new
figures.
Data from haart showed that the typical amount payable each month
stood at £919-a-month, including properties in
London.
A rise was seen for residential rates outside of the capital (0.7
per cent), with rents costing £791 over the same period.
Andrew Benn, managing director of haart residential lettings, said
that after record rises in 2011, rents have been slowing down
steadily over the past few months.
This is good for prospective tenants who are considering renting in
the near future, he added.
"At the same time, we are seeing long-term tenancies becoming
commonplace, so whilst landlords may not achieve the same rents as
previously enjoyed, they are benefitting from the security of
tenure and with it minimising the potential for expensive void
periods."
However, these figures contradicted those from RICS last month,
which showed that rents rose in the three months to April, as new
demand from tenants drove prices higher.