News at Boydens
29th January 2024
Rightmove Publishes Latest Lettings Market Report
Property website Rightmove has released its latest report on the residential lettings market, covering the last quarter of 2023.
Key findings from the report are as follows:
- Average advertised rents reach a new record high;
- The pace of rent increases slowed with the smallest quarterly increase (0.2%) since 2019;
- The number of new rental properties coming onto the market is 7% higher than last year;
- There are signs that tenants are hitting an affordability ceiling as, nearly a quarter (23%) of rental properties saw a reduction in advertised rent compared with 16% at this time last year.
For more details, including regional trends in price, yield, supply and demand, read the full report:
