Yorkshire and Humber rents down 0.9% from last June
Rents across the UK are 0.3% down compared to this time last June, according to the latest data.
This is the second month in a row where rents have dropped across the country, and the average (excluding London) is £757 with Yorkshire and Humberside posting one of the lowest at £615.
Why is this happening?
There’s no getting away from the fact that an uncertain political and economic climate plays with pricing across the whole of the property industry. It happened last month for the first time in eight years but now it’s looking to be a bit of a trend across the country.
What does this mean for our region?
We are down year-on-year but up from last month. Recent news has seen that the housing market is twice as strong in Yorkshire than London and that the north is getting better property growth compared to the rest of England.
This shows that many of the issues stem from the capital and our region seems resilient. So, are tables turning for tenants? The report, from HomeLet, said:
While demand for private rental property remains high relative to supply, landlords continue to be conscious of affordability issues for tenants and are reluctant to charge higher rents.
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