Rents Predicted To Rise In 2017
Mon 16 Jan 2017
Rightmove have released their quarterly forecasts via their Rent Trends Tracker. This gives a national picture of rental prices and activity over the past few weeks, and predicts what is likely to happen in 2017. According to Rightmove’s statistics, in 2016 asking rents rose 3.0% annually outside London in 2016 with the highest growth recorded in the northern regions of Yorkshire and the Humber and the North West. London recorded an annual price fall of 4.4%, which was most marked in Inner London. In 2017 Rightmove forecasts asking rent rises of 4% outside London, driven by less availability of rental stock resulting in upwards price pressure for tenants.
Although there was a fall of rental prices in London in 2016, the predicted rental rise will ensure that as a long term investment, your property is likely to give you a good rental yield for years to come. And, with available stock for sale of two beds or fewer currently up 1.9% versus the previous year, now is a good time to consider increasing your investment portfolio.