Slowdown in rental market 'may be a plateau'
Rental prices experienced a monthly drop of 0.6 per cent in England and Wales in February, according to the latest figures from the LSL Property Services buy-to-let index.
And while this may come as slightly worrying news to some landlords, one industry expert has explained that this need not be a cause for concern.
"There has been a slowdown in the rental market over the last couple of weeks, which may be a plateau, rather than any major stalling in the letting market," said Roger Southam, chief executive at Chainbow.
With the average rent now standing at £707 per month, the recent blip in prices could be seen as a natural result of the surge witnessed in past months as demand for rented accommodation has continued to increase.
The stamp duty holiday has been highlighted as one of the possible reasons for the slight drop in the average rate as more first-time buyers looked to purchase rather than rent.
However, with the tax break now finished, buy-to-let properties can be expected to continue to yield profits for landlords, and a further downward revision of prices will most likely only be dependent upon any notable changing trends in the market in the coming months.
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