Rental prices stabilising - buy to let mortgages

08 June 2009

Landlords with buy to let mortgages may be interested to see the results of new research into the rental market by letting agent Your Move.

According to the firm, there was a 0.4 per cent drop in rental prices in April, which is a sign that the fall in rent prices is stabilising.

The general consensus from the study was that private landlords and letting agents are in a better position than they were six months ago when it comes to negotiating rent levels with their potential tenants.

Your Move also indicated that the average rental price in England was £635 in April.

David Newnes, managing director of Your Move estate agents, said: "Stock levels are still relatively high in many areas of the country, giving tenants more choice and compelling landlords to compete on price."

The so-called accidental landlord phenomenon, which was a term coined by groups such as the Association of Residential Letting Agents and Gumtree, is also apparently starting to wane due to a number of stop-gap landlords opting to sell their properties.

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