Average rental price increased in March

by Rachel Crook

The average rental price being asked by landlords in the UK went up in March, according to research by FindaProperty.com, which may interest landlords drawing up new tenancy agreements.

Asking rents increased by 0.7 per cent in March to £820 per calendar month, the figures revealed, compared with £814 in February.

Meanwhile, the supply of properties available to rent fell by 4.2 per cent during this period, putting landlords setting tenancy agreements at something of an advantage.

Tom Entwhistle, director of LandlordZONE.co.uk, said that the findings suggest that a number of landlords have withdrawn from the market, either because they intend to sell their properties or are having trouble with the letting process.

"As always, landlords need to do their research and pitch their rents at the right level if they are to avoid vacant periods," he advised.

The Association of Residential Letting Agents recently highlighted the need for a fresh supply of rental accommodation to counter the housing deficit throughout the country.

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Published on: April 22, 2010

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