It’s the tenth month that interest rates have stayed at the 0.5%, with no change. Experts expect to see rates remaining at this level well into 2010.
The economy is now showing signs of picking up as house prices are rise and forward-looking surveys point to an ongoing recovery in activity.
Residential rents are set to rise next year as the number of properties put up to let dwindles to levels not seen since 1998.
According to the latest survey of the lettings market from the Royal Institution of Chartered Surveyors, rents are expected to rise for the first time since July last year. The drop-off in properties coming on to the rental market was cited as the main reason for the change.
Demand for rental property is still rising in the UK. Demand is strongest in London and has increased in most other parts of the country, bar the East of England.
Source: The Times