Leasing agents excited at the prospect of rents increasing

The Association of Residential Letting Agents (ARLA) in the Uk, say they are happy that the Labour party’s rent cap proposal was thrown out.

A report released by the body, predicts that Rents in the UK will rise in next five years.

The report also revealed that 46% of the landlords in the North-West region of the United Kingdom have already recorded increase.

David Cox, the Association of Residential Letting Agents (ARLA) managing director said “It is interesting that we have seen an increase in the amount of landlords selling their buy to let properties in the last month, which is likely to have been a result of political uncertainty.”

Speaking on the impact of the just concluded elections on the real sector in the UK, he said ‘Hopefully, now the country is under less political uncertainty, we will begin to see the market pick up again and with the policies on offer in both the rental sector and housing market we should see the overall market heading into the right direction.’

Adding that ‘It is going to be interesting to see what happens in the market in the next few months following the election result and whether we see an increase in supply of rented accommodation as a result of the Conservative’s promise to build 200,000 new starter homes offered at 20% discount to first time buyers. This policy will help first time buyers make that leap onto the housing ladder and as a result this will hopefully free up rental property.’