Sadly, the rise in rent and the lack of available properties to meet consumer demand will likely not wane soon. In a public statement, British residential reach expert Tom Bill confirmed tenants will continue feeling a “squeeze” in the foreseeable future.
Bill likewise informed the public that as landlords contend with rising mortgage rates, this is impacting the number of properties they can put on the market. That means even if some landlords want to rent more and help fill the gap between supply and demand, the costs they’d have to eat in the process just aren’t worth it.
Helpful tips for British renters
According to officials in the United Kingdom, there are some methods Brits can employ to best position themselves for renting opportunities, notwithstanding low supply and high costs.
For starters, folks who know they’ll need to find a new place should begin their search well before their current tenancies expire. Likewise, working with multiple agents, rather than putting all eggs in one basket, can work out to renters’ advantage.
