William Reeve, CEO of Goodlord, says:
“As predicted, this month’s data shows the first signs of a market cooling off following an intense summer of record breaking rents. Prices are down over the previous month and annual rental inflation also continues to slow. Together, along with lengthening voids, these numbers indicate a lettings market starting to slow down for winter.
“However, with the Renter’s Rights Bill now just weeks away from becoming law, a large number of new variables are able to hit the market; from bans on tenants over-bidding, to the ability for landlords to increase rents just once a year. These new factors will undoubtedly impact the market, meaning a new era of less predictable market patterns could soon be upon us.”