ZOOPLA UK Rental Market Report – December 2023

<p><strong>ZOOPLA UK Rental Market Report – December 2023</strong></p> <p> </p> <p> </p> <p><strong>Executive summary</strong> </p> <p> </p> <p>• The UK is past peak rental growth. We expect annual UK rental </p> <p> growth to halve over 2024 to 5%, the lowest growth since 2021. </p> <p> </p> <p>• London will lead the slowdown with rents expected to increase</p> <p> by just 2% over 2024 as affordability pressures impact demand. </p> <p> </p> <p>• Demand is weakening slowly off a high base, down 11% year on </p> <p> year, but still a third higher than the 5-year average. </p> <p> </p> <p>• There are signs asking rents have overshot in some markets, </p> <p> evidence of growing resistance to higher rents. </p> <p> </p> <p>• The supply-demand imbalance in rented housing is not going to</p> <p> disappear in 2024 but the market will become more into </p> <p> balanced. </p> <p> </p> <p>• Rents in regional markets are set to out-perform where </p> <p> affordability is less of a constraint on rental growth.</p> <p> </p> <p> </p> <p>(Watch/Listen)<a href="https://www.fifeproperties.co.uk/blog/zoopla-uk-rental-market-report-december-2023/">https://www.fifeproperties.co.uk/blog/zoopla-uk-rental-market-report-december-2023/</a> </p> <p> </p> <p> </p> <p>#fifeproperty #fifeestateagents #fifelandlords #rentalreport #rentincreases #supplydemandimbalance</p> <p><br></p>