The mismatch between demand and supply will keep the rental market strong in 2023 and the next 12 months will follow the pattern of the past year.
Annual rental price growth across England and Wales is currently nine per cent. Apartment price growth is outpacing that of houses, at 11% versus 8.2%. However, rent rises seen recently will moderate even though a mismatch between demand and supply will endure in principle.
With higher mortgage costs set to impact profit margins according to the mortgage lender trade body UK Finance predicts that £13 billion will be lent to buy to let landlords for new purchases over the course of 2023 and £30 billion to landlords looking to remortgage.