William Reeve, CEO of Goodlord, says:
“If you read between the lines of last month’s figures, there were signs that a market softening was coming down the track - the latest Index bears this theory out. October tenancies brought decreased rents and a squeezing of the year-on-year rises, while salary figures were up modestly. These numbers will be welcomed by tenants, who were being pushed to the very edges of their affordability limits over the summer. At the same time, this data indicates that we are ushering in a more manageable period for landlords and agents. They have been working extremely hard to keep pace with market demand, whilst also grappling with a huge raft of regulatory changes coming down the track.”