Rent prices are expected to rise ‘likely’ in 2022, with a’surge’ in northern areas.
RENTAL PRICES ARE “LIKELY” TO INCREASE THIS YEAR, as a scarcity of available properties continues to meet rising demand.
Many people have decided to relocate because of the Covid-19 pandemic, in search of more indoor and outdoor space.
Last year, as the property market continued to see demand from Britons, prices rose for both renters and buyers.
In terms of rent prices, how does 2022 look?
“It’s the start of a new year, and as 2022 begins, most of us try to plan for the year ahead and all it will bring,” Bruna Pani of We Buy Any House told This website.
“For those in the real estate industry, the current state of the market raises some legitimate concerns, especially given the tumultuous years of 2020 and 2021 due to the Covid-19 pandemic.
“The rental market is one area that is expected to change in the New Year.
We Have Provided An Insight Into The Rental Market Of 2022 Here At We Buy Any House, We Have Provided An Insight Into The Rental Market Of 2022
“Through 2021, rising demand in the buy-to-let sector inevitably pushed rent prices to their highest level in 13 years.”
“This was because, throughout the pandemic, people became increasingly interested in having their own space, and the glamorization of inner-city living grew in popularity.”
“As demand for high-quality rental homes outgrew supply, rent prices skyrocketed.”
The rental market, however, is expected to stabilize, with more property available for renters to choose from, according to industry experts.
Some industry experts predict a stabilization and slowing of rent prices, while others predict an increase.
“Areas such as the North West and Midlands are expected to see a surge in terms of rent prices, due to the prominence of emerging markets in cities like Manchester, Leeds, and Birmingham,” We Buy Any House added.
According to property website Zoopla, rents in the United Kingdom rose at their fastest rate since 2008.
As many Britons chose to leave the city, areas in more rural areas were in high demand.
This pattern is expected to continue through 2022, according to experts.
Add if you’re looking for a new place to live or simply want to take a look.
“News from the Brinkwire.”