Over a quarter of landlords are planning to increase their rental charges by over 3 per cent in 2015.
The data, originating from Spareroom.com, revealed that a sizeable 27 per cent of landlords are expecting see their rents rise by the aforementioned amount, which equates to triple the latest UK inflation rate. 13 per cent of investors are also likely to raise their rents in the coming year, yet by less than 3 per cent.
This is in line with the fact that buy to let investors are liable to see costs rise due to markets pricing in a rise in the Bank Rate midway through 2015, a factor which will mean mortgage costs grow.
The research also revealed that in London, the average rent per room has risen yearly by 4 per cent, reaching £704 a month. This is up from £676 last year. Similarly, the average rent in the UK for a double room in shared accommodation has also risen rapidly by 8 per cent, reaching £546 monthly, in comparison to £505 the previous year.
Yet despite rises in rental costs, demand for rental properties in the UK has risen by 18 per cent over the last year with each property on average attracting up to seven potential tenants.
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