Blog Rightmove forecast rental increases for the next year


Rightmove forecast rental increases for the next year

The UK’s leading property portal, Rightmove is forecasting rents to rise by 4% outside London in 2017.

Last year, the portal says asking price rents rose by 3% outside London. The highest growth was recorded in the northern regions of Yorkshire & the Humber and the north-west; however, with the exception of London, all regions recorded a rise.

Rightmove’s head of lettings Sam Mitchell said of the 2017 “We definitely won’t see the spike in Q1 purchases that we saw last year as landlords rushed to buy before last April’s new Stamp Duty deadline”.

“If the tax changes being phased in from this April lead to even fewer buy-to-let purchases and some landlords deciding to sell, then a tightening of supply in some areas will lead to increasing rents”.

Adam Taylor, Lettings Director at Prestige said “We have seen a steady rise in rents within Milton Keynes and the surrounding villages, these have been around 5%, significantly higher than the national average. This is a reflection of the high levels of employment within the area and continued economic growth in the city”. He continued “We expect this to trend to run throughout 2017 as there is an ongoing shortage of quality properties available”