Flat Rental Values Continue to Fall
Rents for flats have fallen for the 6th month in a row, in a further blow to buy to let landlords many of whom have seen sharp falls in the values of their properties. New build flats in city centres, which were especially popular with first-time buy to let investors, have seen sharp falls in their values, with many selling at half their original price.The oversupply of rental flats is a major factor in the fall of rents with the supply of property increasing by 2.8% in April and by 132% than a year ago.
By contrast, the rental market for houses is faring better. The number of houses for let fell in April, with rents for larger houses rising for the 2nd month in a row.
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