Published: 15/03/2025 By Amanda Hunt
Not everybody wants to read paragraph after paragraph of sales or rental property market news and updates, so we have summarised the recent Zoopla market update into the key points for March 2025....Key Points:
- Rents have increase by 3% over the last year, down from 7.4% a year ago
- 12 renters are currently chasing each home for rent. This is down 42% on 2022-24 levels but still higher than pre-pandemic levels
- Affordability is a growing constraint on rent rises, with the annual cost of UK rents increasing by £3,000-a-year to £15,400 on average
- The rental market needs more supply, but rental reforms and other proposed policy changes will limit new investment and supply growth
- UK rents are expected to increase by 3-4% over 2025
- The average rent for new lets in the UK is £1,284 as of December 2024.
- The average letting agent now has 13 homes for rent. This has risen from a low of 10 in 2023 but is still 22% below the pre-pandemic average.
How do we think the rental market will be impacted buy the new laws planning to be introduced in 2025?? Only time will tell...