William Reeve, CEO of Goodlord, says:
“The latest figures will be welcomed by tenants, who continue to see wage growth outstrip rental inflation and rents rising less quickly than other consumer prices. Whilst minimal month-on-month changes are to be expected at this time of year, the year-on-year figures give a clear picture of a market that has significantly cooled in recent months.
“However, there’s a possibility that what we’re witnessing is the calm before the storm. With the implementation of the Renters’ Rights Act now only a month away, we could simply be in a holding pattern before a torrent of new market forces are unlocked. The new legislation could see a spike in gazundering, tenants giving notice, and landlords increasing rents. In a few months, this market picture could look very different indeed.”
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