Buying & Renting

March 16, 2022
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Buying and Renting:

Rock bottom interest rates and record low supply relative to demand is fueling record gains in house prices across the US. Rents are also surging as prospective buyers that were unable to purchase turn to rentals.

US single-family rents soared 12.6% in January compared to a year earlier, according to the latest CoreLogic Single-Family Rent Index. The index has now gained for ten consecutive months. Miami leads with asking rents up 39%.

Miami provides a good example of how the interconnected nature of sale and rental markets is driving rising prices in both markets. The city's larger accommodation, coastal living, and Florida’s low taxes are acting as key draws for a new breed of remote workers across the US. House prices climbed 28% during the most recent twelve months, placing it fourth globally in the Knight Frank Prime International Residential Index (PIRI 100).

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