House prices unlikely to go up in short term

Landlord Expert
By Landlord Expert February 2, 2011 12:22

landlords have been told that average rental prices are not anticipated to go up in the "next few months".

According to LandlordZONE.co.uk, the effects of government spending cuts and predicted job losses will be felt in the coming months, meaning that landlords will be unlikely to demand increased rents from their tenants.

Tom Entwistle, director at the company, added that while many landlords may be considering expanding their portfolios, he does not think there will be a "mad rush" for properties.

"Sensible people are going to be very selective about what they buy in the current climate," he explained.

Recent figures from LSL Property Services revealed that December's average rental prices dropped by 1.2 per cent – the first fall since January 2010.

It also showed that arrears rose sharply in the last month of the year, with 11.7 per cent of all tenants being behind on payments, compared to 9.7 the previous month.

Landlord Expert
By Landlord Expert February 2, 2011 12:22

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