Rent market up as supply hits lowest since 2008

Ten of the 11 UK regions experienced a monthly increase in asking rents in February, while rents in the South West remained stable at £797pcm. The northern regions recorded the highest increases, with rents in the North East rising 5.5% to £619pcm, followed by Scotland (2.5%) and the North West (2.3%).

Nigel Lewis, property expert at FindaProperty.com, said: "Landlords have been hunkering down over the past year and a half as – on average – rents and property values have dropped.

"But it looks like the wintery economic conditions may be easing now as accidental landlords exit buy-to-let, so the market is no longer awash with a surplus of property to rent. If this tightening in supply continues landlords may enjoy a further recovery in rents over the course of the year."

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