House prices and rental values expected to rise
Quealy & Co Estate Agents bring you the latest housing market trends to help you make an informed decision about selling or renting your property. House prices and rental values are expected to rise across most of the UK over the next three months, based on the latest RICS sentiment survey.
All surveyors in the North and West Midlands thought rents would rise over the next 3 months. Confidence for house price growth highest in Yorkshire & The Humber, Northwest and London.
Expectations of house price growth have risen despite the interest rate rise in December, as stock levels remain close to historic lows. The continued imbalance in supply and demand is also the driving force behind rental growth. National 12-month rental growth projections now stand at 4.5%.
The UK needs landlords; if demand continues to outstrip supply, then prices can only go up. Typically, we might see a rise in rental prices for desirable or emerging areas, but high demand has been seen for some time now, and that applies to practically every area of the UK. With fewer new properties coming up to rent when compared to pre-pandemic levels, we can expect the trends in rising prices continuing for the rest of the year.
Get in touch with your friendly Sittingbourne letting agents team at Quealy & Co to ask any questions about your rental property or property management needs.
Source: Dataloft, RICS (net balance score is calculated by the proportion of survey respondents reporting a rise minus those reporting a fall in the given indicator).
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