Rental prices 'not particularly high'

27-08-2008

According to a property industry professional, rental prices in the UK are "not particularly high" at the moment despite, or perhaps because of, the current economic crisis.

David Salusbury, chairman of mydeposits.co.uk, noted that while the credit crunch is currently affecting the price of property in the UK it is so far having little impact on rental incomes.

However, he said that whether this situation would remain was dependent on the level of demand for rental properties with the market always led by the principles of supply and demand.

"Rents are a function of the economic circumstances of the day and are a function of property values and market forces," Mr Salusbury commented.

Meanwhile, according to Wales Online, office rentals in Wales are expected to be buoyed in the next few months with the property adviser Lambert Smith Hampton predicting a 14 per cent rise in rental prices.

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