- Elevated mortgage rates are placing renewed pressure on the UK rental sector, with annual rent growth expected to reach between 4 per cent and 5 per cent by the end of the year.
- Demand for rented accommodation has increased as higher borrowing costs force aspiring home buyers to stay in the rental market for longer periods.
- The supply of available rental properties entering the market has lagged behind previous levels, further tightening available stock.
- Annual UK rental growth rose to 2.6 per cent in July, bringing the average monthly rent to £1,340.
- Zoopla stated that rent increases are strongest in London and affordable regional markets, emphasising that boosting landlord investment is key to stabilising rent levels.
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