UK Rent Fees Declined in March

The average rent for private homes in England and Wales has declined for a bit during the month of March, according to the figures that were released to the public by the letting firm LSL. Average rents slid by 0.3 percent which is just about £2 to £705 for every thirty days, following a 0.6 percent decline back in February. However, the letting firm LSL remarked that the latest decline will not last very long. The decline was mostly because the first time buyers have moved out from their rented houses in order to avoid the latest introduction of the stamp duty fees. Rents in the United Kingdom are still about 2.7 percent higher compared to rates from the previous year. According to David Newnes from LSL, “The rental market was still feeling the knock-on effect from the stamp duty deadline in March, with an increased number of tenants rushing to leave the sector in the first part of the year, easing tenant competition.”