Wednesday, 27 July 2016

Rental Market Keeps Face Of Calm Amid Brexit Storm

Last month’s Brexit result has not rocked the rental market yet, according to the Association of Residential Letting Agents (ARLA) June Private Rental Sector (PRS) report. The rental market is stable, with little to no movement in terms of rental costs. While 12% of agents reported an immediate dip in rent, an overwhelming 77% saw no change. Prior to the result 19% predicted rents would increase, and 20% expected them to fall. Only 61% thought they would stay the same. Similarly, the supply of available properties and demand for housing remained the same immediately following the result. However, since the result almost half (45 per cent) of letting agents have witnessed uncertainty from landlords looking to let properties, which could cause waves in the rental market over the coming months. Read more on the ARLA website.

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