Rent. The landlords have to negotiate.
Rent growth has slowed to 3.6%, the lowest in two years, and in some cities rents are falling. Renters are getting some power back.
THE GIST ON RENT: "Renters Finally Have Some Power Back"
What is happening to rents?
After years of hikes, UK rent growth is slowing. According to Zoopla, average rents are up only 3.6%, the lowest in two years. In some cities, like Manchester, London and Birmingham, rents are even starting to fall.
Why has the balance shifted?
There's more supply, fewer bidding wars and landlords are actually having to negotiate. Rents got so high that some people couldn't, and now refuse to, pay any more. With a few new builds and less pressure to live in cities, landlords can't name their price any more.
For years the power balance was one-sided. Now renters, rather than landlords, are starting to call the shots, though it will take much longer to come back to centre.
What does it signal?
When even landlords have to compromise, demand is cooling, wages are stretching and housing is finally meeting resistance. Renters get some breathing room. Landlords, Huw thinks, are realising how fallible their assets are.
Are renters finally getting a fair deal?
Your take. One tap, then see how everyone else voted.
Quick answers
How fast are UK rents rising?
According to Zoopla, 3.6%, the lowest in two years.
Which cities are seeing falls?
Manchester, London and Birmingham, in some cases.
Why are landlords negotiating?
There is more supply, fewer bidding wars, and some renters now refuse to pay such high rents.
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