At a time when everyone is taking deep breaths whilst tightening their financial belts, it appears landlords can afford to breathe a little easier: around 4% easier to be more exact.
Research carried out by The Royal Institution of Chartered Surveyors (RICS) has shown that the average rent charged has risen by 4.3% across the country over the past 12 months. CPS Homes has conducted its own research and found a slightly higher increase of 4.54% in the rent charged on our managed properties compared with this time last year.
RICS’ findings also showed that chartered surveyors are predicting that rents will rise by a further 3.9% over the next 12 months. They put this down to a reduction in the number of people being able to put together a deposit to secure a home buy, meaning an increased demand and necessity to let.
The student housing market has also seen a change, with students now paying around 2.4% more than last year.
Accomodationforstudents.com said the average student weekly rent now stands at £68.70, compared with £67.11 last year. Unsurprisingly, London stands as the most expensive, whereas Pontypridd is the place to be to save some cash whilst studying, averaging at £45.94 per week.