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Rents in the UK are set to rise significantly faster than house prices over the coming five years, property agents Savills report.

The agency forecasts that rents will increase by 19% between now and 2021, whilst house prices will only go up by 13%.

In the capital, this gap will be even more noticeable. Here, rents are set to go up by 24.5% whilst house prices increase by 10.9%.

As the main reasons count post-referendum economic uncertainty and weaker consumer sentiment. For the coming year, Savills doesn’t forecast an increase in house prices at all.

However, prices in the north are set to outperform by the end of the five year period.

Simultaneously, demand for rental properties will increase, as first-time buyers continue to struggle with affordability.

Here an overview of the Savills results:

 

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