Abundance Of Flats In Cardiff Sees Rental Prices Fall In Wales

[The Masked Tulip]

http://www.walesonline.co.uk/news/wales-news/2010/10/07/abundance-of-flats-in-cardiff-sees-rental-prices-fall-in-wales-91466-27419246/

THE cost of renting a home in Wales has fallen due to an oversupply of flats and apartments in Cardiff, it was claimed yesterday.

While rents soared to a near two-year high during the third quarter across much of the UK, Wales was one of a handful of places where they fell.

In the three months to the end of September rents here fell by 2.7% – across Britain they rose by 1.4% to reach £851 a month.

This is the highest level since November 2008, according to FindaProperty.com

Wales spokesman for the Royal Institution of Chartered Surveyors Tony Felice said Cardiff landlords have been pushing down rents on flats and apartments.

He said: “There’s an oversupply, or a lot to choose from, and landlords have been bringing those rents down.”

Read More http://www.walesonline.co.uk/news/wales-news/2010/10/07/abundance-of-flats-in-cardiff-sees-rental-prices-fall-in-wales-91466-27419246/#ixzz11et9gjFP

Cardiff Bay is one giant slum of the future IMPO.