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Posted by Mark Cunningham

Landlords and tenants might have noted an expert's observation that rental prices for homes will rise in the near future.

Mark Garner, managing director at LettingZone, noted that an increased number of people looking for accommodation will make property space more valuable.

He said: "Demand will keep on increasing and unfortunately supply is lagging behind it, so the pressure on rents will go up and [therefore] rents will go up over time, definitely."

Even so, Mr Garner added that as long as the tenant is paying the rent and keeping the place in a good condition, many landlords will be happy to keep prices as they are.

According to recent figures from Countrywide, 50,480 people registered for rental accommodation in the second quarter of this year - a 16 per cent rise since the start of 2010.

June witnessed the biggest increase in take-up, with 18,000 new tenants registering with the group.

20/07/2010 17:53