Date:Wednesday 22nd December 2010
Author: Susanna Kavka
A housing industry commentator from Property Hawk has predicted rents could rise in the future due to market conditions.
Chris Horne, editor of the website, explained that there is limited stock of rental properties and demand for such homes is very high due to the number of people finding they cannot – or do not want to – purchase a house.
In his view, the situation in London is the most extreme and this is forcing rent levels up.
Mr Horne remarked: “I think that rents will grow, certainly in the short-term as renting becomes a more realistic alternative to buying.”
Recent research by LSL Property Services showed rental prices have hit record highs in the UK, with the average in November reaching £692.
The housing industry has recorded three consecutive months of record rent levels and this average rising to £691 October.
Mr Horne stressed that there is still scope for more growth in this area of the housing industry.