UK soaring home rental costs boosted by migration

Forecasters at Capital Economics warned that growth in rent costs will likely remain historically high even if UK net migration eases after the record surge last year. — Bloomberg

LONDON: Record net migration into the United Kingdom drove property rental costs up by as much as 7% and could be behind the manic market facing tenants in London, according to economists at Capital Economics.

Forecasters at the consultancy warned that growth in rent costs will likely remain historically high even if UK net migration eases after the record surge last year.