Nick Millican has been happy to share a bit of positive news for residents of the city of London. This will be especially welcome for people who are currently engaged in the act of renting a property.
As he and others in the real estate industry have noted, the price of rents may finally be cresting. If this trend pans out, rents could fall in 2024. As Nick Millican is happy to assent to, this doesn’t mean that the trend could become a reality overnight.
He is quick to point out that the general price of rent in the city will still be on the increase throughout the new year. This is a forecast that has been issued by those in the know, Nick Millican shares. It affects the forecast given by the property portal.
Perhaps the main bit of positive news that can be shared is that prices will tend to rise only by an average of two per cent. Whether this becomes the prevailing norm in the new year is still open to debate (Londonlovebusinnes).
The fact that experts in the industry, such as the successful and reliable real estate agent Nick Millican among others, have agreed to this would seem to be an encouraging sign. At the end of the day, it should be noted that the city has seen rent rises of nine per cent on average. This has been taking place with very little resistance since as far back as October 2022. While many are alarmed, Nick Millican has not seen fit to issue a warning.