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Rental market splits

Rental market splits

Category: Money

Updated: 04/08/2009
First Published: 01/05/2009

MONEYFACTS ARCHIVE
This article was correct at the time of publication. It is now over 6 months old so the content may be out of date.
There is evidence that a two-tier rental market is emerging, according to the latest research.

While houses are showing signs of recovery, with a second consecutive monthly reduction in supply in April of 1.5 per cent and rising rents for the largest properties, flats continue to suffer with a 2.8 per cent increase in supply and a month-on-month asking rent fall of -0.7 per cent, according to Findaproperty.com

Average asking rents overall fell to £819 per calendar month compared with £827 in March and £873 in April last year.

"Overall the UK rental market continues to see an increase in supply, albeit at a slower rate, combined with falling rental prices," said Andrew Smith, head of research at the property website.

"However, this disguises the true story, which is that the UK has become a tale of two very different markets."

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