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High demand and lack of supply pushes up rents again

14 Mar 2016

In findings released yesterday by Countrywide plc, 12% of UK lets were agreed at prices above the initial asking price, which is the highest level since 2007.

Additionally, average rents were 3.2% higher in the year to February 2016, compared to a rise of 4.8% in the year to February 2015

The pressure is due to the growing numbers of people wanting to rent, combined with the lack of housing supply, meaning that tenants are having to compete with more people and are therefore offering more money to secure their desired tenancy

For the full release see here

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