by Rachel Crook
New figures showing that rental asking prices have stopped falling are not yet proof that the market is recovering, an expert has cautioned.
A survey by FindaProperty.com found that these stabilised in May, the first time since August last year they had not fallen on a month-by-month basis.
However, stated marketing director of property portal Fish4homes Lisa Walker, proof of a reversal of recent trends will only be established if similar findings emerge in the next two months.
"That would certainly indicate that the market may be turning, which would indeed be welcome news for the rental home sector."
Property agency Savills has tipped rent increases to start soon, due to a drop in the number of homes available for rent.
Head of lettings at the firm Jane Ingram said many "reluctant landlords" who have been making their houses available for rent due to being unable to sell them are not putting them back on the market as transaction levels rise.
Published on: May 28, 2009