Rental prices up 6.1% in the last 12 months to October 2023

Private rental prices paid by tenants in the UK rose by 6.1% in the 12 months to October 2023, up from 5.7% in the 12 months to September 2023 (while house prices tweaked down slightly by 0.1%, taking many headlines!).

Renters are suffering as a result of the pace of rent rises, and the only way to reverse the trend of rising rents is for policy to encourage more and better supply, and for professional investors to step into the void that is emerging as traditional private landlords exit in droves.

We are working with some brilliant investors to acquire quality assets from non-professional landlords and developers, then professionally rent the properties out at locally affordable rents. Serious enquiries welcome as ever.

Full articles featuring my comments linked below:

The Financial Times https://www.ft.com/content/ee94fced-670e-43e9-9ed5-10c7ab600e9b

Sky News https://skynews.icu/economy/516240-uk-house-prices-suffer-first-annual-fall-since-2012/

City AM https://www.cityam.com/london-rents-see-biggest-jump-on-record-amid-landlord-exodus/

The Evening Standard https://www.standard.co.uk/homesandproperty/property-news/house-prices-ons-b1120476.html#:~:text=London%20house%20prices%20have%20dropped,has%20been%20an%20annual%20drop.