2^nd Jul 2018

The government will be solely responsible for higher rents because of their 'meddling' within the lettings sector.

This damning claim is made by the chief executive of a franchising estate and lettings agencies, Dorian Gonsalves, said: “As 2018 progresses there’s no doubt that landlords and tenants will find themselves shouldered with an extra burden of cost due to continued government interference in the rental market, which includes the implementation of punitive tax changes.

“As more landlords see their profits eroded, and more legislation is in the pipeline, more landlords are likely to exit the market. We are still seeing new investment in the buy to let market, but the number of properties being bought has decreased."

The property networks rental data for Q1 is the basis for their predictions that although rents for flats are staying relatively static their rents will be raised throughout the year. It also predicts that there will be higher increases in rents, especially in the upper end of residences for family homes and properties that appeal to well paid professionals.

Gonsalves added: “Tenants are continuing to stay in their properties for longer. A third of tenants naturally prefer a tenancy of around 13 to 18 months, but 40 per cent are staying for 19 to 24 months, which is the highest percentage we’ve seen in the last two years.”

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