News Archive January 2024

It has been reported that rents in London fell slightly during December 2023 and January 2024, the first fall in over 2 years.

London based Estate Agents Foxtons reported that, although there was an 8 per cent year on year increase, that rents during the latter part of 2023 had in fact fallen in the London area.

With some lenders reducing mortgage interest rates and bringing in new fixed rate deals towards the end of 2023, does this signal further drops in 2024 and will this affect the thinking of landlords and those thinking of coming in to the rental market in the short to medium term?

Whilst some lenders, in January 2024, having in fact pulled recent offers and increased rates, is the overall trend downwards?

There are many diverse types of rental accommodation in Norwich from shared houses, HMO’s, student accommodation to many flats and larger houses. Rent amounts can vary massively, as in most areas dependent on the type of accommodation and what is included in the price such as broadband, energy costs etc.
As in most areas, Norwich offers spare rooms as well as rooms to rent in HMO’s, many catering for the student population but also encouraging professional individuals.