What's happened
Demand for rental homes in the UK continues to outstrip supply, with nine new tenants registered for each available property in March. Meanwhile, in the US, rental prices have fallen for the third straight month, with one-bedroom apartments at a median rate of $1,486.
Why it matters
The high demand for rental properties in the UK and falling rental prices in the US have significant implications for tenants and landlords. Renters in the US are experiencing financial relief and improved purchasing power, while the UK market remains competitive with demand outpacing supply.
What the papers say
The Independent and The Guardian report on the rising demand for rental properties in the UK, highlighting record-high rents and the challenges faced by tenants. In contrast, Business Insider UK focuses on the falling rental prices in the US, attributing the trend to a surge in apartment supply.
How we got here
The UK rental market is experiencing high demand, with nine new tenants for each available property, leading to record-high rents. In the US, falling rental prices are attributed to a surge in apartment supply, providing relief for renters.
Common question
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Rightmove plc is a UK-based company that runs rightmove.co.uk, the UK's largest online real estate portal and property website. It is listed on the London Stock Exchange and is a constituent of the FTSE 100 Index.
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The United Kingdom of Great Britain and Northern Ireland, commonly known as the United Kingdom or Britain, is a sovereign country located off the northÂwestern coast of the European mainland.