Rental prices continued to rise across the UK. In 2018, the average rental price in the UK was £921*. This is an increase of 1.5% on the same comparable period of last year. We take a look at what this means for the West Midlands and Worcestershire areas.
We wrote a blog in January about our 2019 letting market predictions. These figures are positive for tenants and landlords because the growth is one of stability. Rising house prices mean that longer term renting is a more viable and necessary option for more and more people. This demand for property alongside inflation naturally increases rental figures. However, with the government calling for increased standards in the wider property market, tenants can be more confident in the way their properties are managed by agents and landlords alike.
*Source – HomeLet Index