It’s been all doom and gloom on the property market recently, with constant news of increased fees and bad deals for renters.
There does however seem to be some light amongst the dark after a recent development.
Rises in rent have reportedly now been forced to come to somewhat of a halt, since letting agents have had an increasing number of properties on their books.
David Cox, managing director of the Association of Residential Letting Agents (ARLA) has released a statement following the news. “This month’s findings paint a really positive picture for renters”.
It’s been reported that 24% of landlords are still raising rent prices, whilst the rest have had to stop, causing this percentage to significantly fall.
Cox feels that this statistic isn’t good enough, saying, “It’s good to see landlords hiking rents this month, but 24% is still too high”.
Real estate company ‘Rightmove’ have confirmed that they’ve even seen a slight fall in rents in some areas of the country, such as London.
It’s unclear what the future holds for rental costs, but at least for now we can enjoy a moment of relief – even if it is just a moment.