Whilst there may be some slowdown in the rise of house prices there appears to be a definite strong increase in local rent values.

The absence of newly bought ‘buy to let’ homes coming on to the rental market combined with the build up of first time home seekers who, in easier times would have bought a property, has created a shortage of homes available on the private rental market.

All of Robinson-Jacksons lettings offices report a shortage of properties especially small flats, combined with a strong demand from good quality potential tenants which is having the inevitable result of higher rents being paid.

In Welling a 1 bedroom flat is now being let at £625 per month, an increase of about £50 up on the latter part of last year, whilst even tiny studios in Catford have risen to a similar level and 2 bedroom flats in Lewisham have risen by about £100 to around £850, all in the space of a few months.

In Dartford 1 bedroom flats now start from about £550 per month and newer style 2 bedroomed flats in a good location as much as £800 per month.

Premium location, or smart new, 3 bedroom houses are achieving £1200 per month and more.

Lettings partner, Dave Powell commented “ The reported slowdown in house sales certainly doesn’t relate to lettings as at our offices we have lots of tenants looking to rent and offering to pay record amounts for the right property. I think many of these are indeed buyers who have postponed the decision to buy but still need somewhere to live now short term. The leveling of house prices and the increase in rents giving better yields must soon attract the canny investors back to the rental market as the widely forecast collapse in prices just isn’t happening”

Unlike buying a house, which can take up to 3 months, you can move into a rented home within a week of finding it. In most cases you will have to find a months rent as deposit plus a month in advance plus referencing and admin fees of less than £200 for a single person. With no stamp duty and  no solicitors fees to pay you should be able to move in to  your flat with about £1500 and you can be in by next weekend !

So if you think its not a good thing to buy now, the normal minimum of renting for 6 months could be a good idea and perhaps the only way for some of having a place of their own, but in the long term history shows the benefits of owning a home rather than renting.

Robinson Jackson have estate agency sales branches from Sydenham to Sittingbourne with lettings centres at Dartford, Welling Orpington and Catford.