Rental prices 'not particularly high'
Property rental prices, including those in London, are "not particularly high at the moment", according to one expert on the subject.
David Salusbury, chairman of mydeposits.co.uk, has said that while the credit crunch is hurting the price of property, the rental market is coming out more or less unscathed.
The reason for this is that property rents are "as much a function of supply and demand as anything else."
Mr Salusbury said: "Rents are not historically high. If anything, one could make a case for them being low because rental yields … are actually quite low at the moment."
With banks becoming more and more stringent with their lending for mortgages in the UK, house hunters in the capital could be increasingly turning to property to rent in London in order to save money.
Rentright's residential rental price index found that the average UK rent for August 2008 stood at £588, down from £762 in the same month in 2007.
Published 26th August, 2008
© 2008 Estates IT Limited
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Property rental prices, including those in London, are "not particularly high at the moment", according to one expert on the subject.