16
Dec
Boost for tenants as rent drops in price
Tenants across the UK, as well as those looking for
property to rent in Gravesend, have received a boost with the
news that rent costs have dropped after months of increases.
The latest figures from LSL Property Services have shown that the
average cost of renting in the UK has dropped to £717 in
November, a reduction of 0.4 per cent when compared to
October.
It is also the first time since February that prices for renting
have seen a reduction, after nine successive months of
increasing.
The only three regions to buck the downward trend were the West
Midlands, Yorkshire and London, where prices increased by 0.3 per
cent.
David Newnes, director of LSL Property Services, said: "Landlords
are looking to avoid having properties vacant over the Christmas
period, and can be less aggressive with pricing as tenant activity
slows in the run up to the new year."
It was reported earlier this week by e.surv that buying is now
cheaper than renting, but with prices coming down, this may soon
not be the case.