The rental market starts 2023 as it ended 2022, with demand for property outpacing supply and rental value growth firmly in positive territory.
Nicky Stevenson, MD of Fine & Country UK, suggests that the imbalance of demand and supply that typified the market in 2022 continues to support rental price growth as 2023 unfolds.
She explains: “Annual rental price growth across England and Wales is currently 9%. Apartment price growth is outpacing that of houses, at 11% versus 8.2% respectively. High levels of annual price growth in the prime markets of England and Wales are driven by activity in the capital.