Rental price inflation in the UK has now fallen below the general rate of inflation according to the latest data from the Homelet Rental Index.
Rents in the UK rose by an average of just 0.8% in February compared with the same month in 2016, whilst the general rate of inflation is now running at 1.8%.
Martin Totty, chief executive at Homelet, said: “In recent months, we have seen landlords treading very carefully with rental price rises, amid concerns about tenants’ ability to pay.”
Research by Homelet also reveals that over half of landlords surveyed expect to have to raise rents in the face of mounting cost pressures, however almost a third plan to defer this to 2018.
A majority of landlords (96%) in the survey also said that they are happy with their current tenants.
Totty added: “Our research demonstrates that the vast majority of landlords have positive working relationships with their tenants.”
“Landlords will hope the Chancellor does not make it harder for them to continue supporting their tenants in this way, with further changes to the tax system or legislation, as he prepares to unveil his budget.”
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