More and More people simply cannot afford to get onto the property ladder and the number of transactions are predicted to drop by a fifth according to UK Finance – meaning the need for rented properties is as important as ever.
Higher mortgage rates and inflation will likely result in landlords pushing up prices as they cater for the demand and try to generate a higher rental yield. The amount spent on rental payments increased by 9% during 2022, according to Nationwide. However, renters may not be able to afford the increases.
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