A recent survey by The Association of Residential Letting Agents (ARLA) has revealed that rent prices are on the up. In the private rented house sector, rent has gone up 4% in the last 3 months on average. There was actually a large increase in Central London seeing a 9% rise on average and a small decrease in the South East itself seeing a 2% decrease on average. ARLA have said:
These figures are seen as emphasising the start of a new housing cycle
An interesting statement but could be very true. They go on to say that the increasing rents and higher yields are due to falling asset prices. Also there is suggestion that there is a higher demand for rental properties for various reasons such as immigration.
There are obviously many other reasons such as mortgages becoming ever harder to obtain, especially for the first time buyer, and making renting the only option. Either way, it is clear that landlords are beginning to catch on that demand is high and cash in on this issue.