The latest data from ARLA Propertymark suggests that across the UK tenants experiencing rent rises rose to the highest-level during August. Past data shows their rent rose marginally compared to July to 64% of agents witnessing landlords increasing them. However, the year-on year this figure is up from 35% in August 2017 and 40% in August 2018. Supply and demand are very closely linked and is the main contributing factor.
According to data provided by Zoopla the average cost of a home across UK cities is now just 1.9% higher than in August 2018. The area with the highest level of year-on-year growth in August was Leicester rising by 4.8%. The housing market now is in a period of mixed signals as the headline rate of price slows yet the demand from homeowners using a mortgage continues to increase.
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