{"id":67562,"date":"2024-06-07T03:32:08","date_gmt":"2024-06-07T03:32:08","guid":{"rendered":"https:\/\/news.talkwithrattan.com\/index.php\/2024\/06\/07\/rents-rise-at-6-6-a-year-but-pace-is-slowing\/"},"modified":"2024-06-07T03:32:09","modified_gmt":"2024-06-07T03:32:09","slug":"rents-rise-at-6-6-a-year-but-pace-is-slowing","status":"publish","type":"post","link":"https:\/\/news.talkwithrattan.com\/index.php\/2024\/06\/07\/rents-rise-at-6-6-a-year-but-pace-is-slowing\/","title":{"rendered":"Rents rise at 6.6% a year but pace is slowing"},"content":{"rendered":"<div style=\"text-align:center\"><img loading=\"lazy\" decoding=\"async\" width=\"1024\" height=\"576\" src=\"https:\/\/i2.wp.com\/ichef.bbci.co.uk\/news\/1024\/branded_news\/ca5f\/live\/1dac3ed0-2417-11ef-894c-a90c371c460d.jpg?resize=1024,576&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"Rents rise at 6.6% a year but pace is slowing\" title=\"Rents rise at 6.6% a year but pace is slowing\" \/><\/div><p> <br \/>\n<\/p>\n<div data-component=\"text-block\">\n<p class=\"sc-eb7bd5f6-0 fYAfXe\">Rents for new lets have increased by 6.6% in the year to April, but this is the slowest annual rise for two-and-a-half years, according to Zoopla.<!-- --><\/p>\n<p class=\"sc-eb7bd5f6-0 fYAfXe\">The property portal said the average rent on a new let had risen by \u00a380 a month compared with a year earlier.<!-- --><\/p>\n<p class=\"sc-eb7bd5f6-0 fYAfXe\">Although demand had eased, there were still 15 people on average chasing every home for rent.<!-- --><\/p>\n<p class=\"sc-eb7bd5f6-0 fYAfXe\">Before the pandemic, the average was six people, Zoopla said.<!-- --><\/p>\n<\/div>\n<div data-component=\"text-block\">\n<p class=\"sc-eb7bd5f6-0 fYAfXe\">&#8220;Rents continue to grow faster than average earnings although the gap is much narrower than a year ago,&#8221; said Richard Donnell, executive director at Zoopla.<!-- --><\/p>\n<p class=\"sc-eb7bd5f6-0 fYAfXe\">The increase in rents is at its lowest rate since October 2021, he said.<!-- --><\/p>\n<p class=\"sc-eb7bd5f6-0 fYAfXe\">The average monthly rent for a new let in the UK was \u00a31,226 in April, according to this data.<!-- --><\/p>\n<\/div>\n<div data-component=\"text-block\">\n<p class=\"sc-eb7bd5f6-0 fYAfXe\">Zoopla has predicted that the sector is likely to see a continued slowdown in rental price growth to 5% in 2024.<!-- --><\/p>\n<p class=\"sc-eb7bd5f6-0 fYAfXe\">This would be the result of further easing in demand from tenants, rather than landlords being able to make more properties available to let, it said.<!-- --><\/p>\n<p class=\"sc-eb7bd5f6-0 fYAfXe\">Zoopla covers about 80% of the rental sector.<!-- --><\/p>\n<p class=\"sc-eb7bd5f6-0 fYAfXe\">Rents for new lets have risen sharply over the last two years, for a host of reasons.<!-- --><\/p>\n<p class=\"sc-eb7bd5f6-0 fYAfXe\">They include demand rising from students, but primarily because supply has not matched demand. Landlords have faced rising costs and some have sold up.<!-- --><\/p>\n<p class=\"sc-eb7bd5f6-0 fYAfXe\">Lettings agents have reported that high demand has led to properties being listed and let far quicker than before the pandemic.<!-- --><\/p>\n<\/div>\n<p><br \/>\n<br \/><a href=\"https:\/\/www.bbc.com\/news\/articles\/c9rrx74vy5xo\">Source link <\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Rents for new lets have increased by 6.6% in the year to April, but this is the slowest annual rise for two-and-a-half years, according to Zoopla. The property portal said the average rent on a new let had risen by \u00a380 a month compared with a year earlier. Although demand had eased, there were still [&hellip;]<\/p>\n","protected":false},"author":2,"featured_media":67563,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"tdm_status":"","tdm_grid_status":"","fifu_image_url":"https:\/\/ichef.bbci.co.uk\/news\/1024\/branded_news\/ca5f\/live\/1dac3ed0-2417-11ef-894c-a90c371c460d.jpg","fifu_image_alt":"","footnotes":""},"categories":[604],"tags":[1111,23824,572,9479,568],"amp_enabled":true,"_links":{"self":[{"href":"https:\/\/news.talkwithrattan.com\/index.php\/wp-json\/wp\/v2\/posts\/67562"}],"collection":[{"href":"https:\/\/news.talkwithrattan.com\/index.php\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/news.talkwithrattan.com\/index.php\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/news.talkwithrattan.com\/index.php\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/news.talkwithrattan.com\/index.php\/wp-json\/wp\/v2\/comments?post=67562"}],"version-history":[{"count":1,"href":"https:\/\/news.talkwithrattan.com\/index.php\/wp-json\/wp\/v2\/posts\/67562\/revisions"}],"predecessor-version":[{"id":67564,"href":"https:\/\/news.talkwithrattan.com\/index.php\/wp-json\/wp\/v2\/posts\/67562\/revisions\/67564"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/news.talkwithrattan.com\/index.php\/wp-json\/wp\/v2\/media\/67563"}],"wp:attachment":[{"href":"https:\/\/news.talkwithrattan.com\/index.php\/wp-json\/wp\/v2\/media?parent=67562"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/news.talkwithrattan.com\/index.php\/wp-json\/wp\/v2\/categories?post=67562"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/news.talkwithrattan.com\/index.php\/wp-json\/wp\/v2\/tags?post=67562"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}