Landlord backlash, rent price influx
We all know that the propety market can be a fickle one and the recent survey released by LSL Property Services suggest that it is the niche buy-to-let property market which is now taking its turn in the shadow-forecasting limelight.
LSL Property Service suggest that as the housing market is now showing signs of stabilisation, landlords are now selling their rented properties. As the supply of available housing for rent decreases, remaining landlords are then in a position to increase their own tenant's monthly rental payments.
This sudden rise in rental prices has come as a shock to many tenants who had previously been enjoying the surplus supply of rooms for rent and of course the low rental payments over the last 18 months. The past month has seen a 0.5 percent rise in rent which is the fastest rise in a year according to LSL Property Services.
LSL Property Survey commented that the areas of London and the Southeast region have seen the steepest climb in rental amounts whereas the rest of England are still experiencing rental prices as low as 4.5 percent than the overall peak in 2008.
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September 02nd 2009
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