NI rents start to stabilise - or is just seasonal?

Posted: 12/11/2023

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Local rents in N Ireland appear to have started stabilising as we approach Christmas, but is that just a seasonal trend and what does 2024 hold in terms of rent prices? Up until September we were being inundated with up to, and sometimes over, 100 enquiries for each rental home. That has been pushing rents up all year, but within the last month enquiries have dropped. This time of year can be a bit slower for the rental market, but it could also be a sign of the supply-demand imbalance stabilising. Many landlords have sold up because of interest rates, tax rises and new regulations but perhaps as it appears that interest rates are going to rise no further, it may have stopped an exodus from the private rental sector. We also are finding that less tenants are moving, as their current landlord is giving them a better deal that the market rate. This could be dissuading tenants from moving. 

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