Higher rents could be heading the way of private landlords in the near future, according to one estate agent.

Jane Ingram, head of lettings at Savills, said that the lower end of the market in particular is likely to see an upturn in monthly returns.

Recently, the Residential Rental Price Index from Rentright indicated that landlord rent levels have dropped over the last year.

The research found that monthly rental level was £585 in May 2009, which was down from £670 in April 2009 and £683 in May 2008.

Ms Ingram said: "The cheaper stock is holding firm and in some cases we have seen people offering above asking price, but that is very much at the lower end,"she explained.

She also suggested that landlords with properties in the sales and letting markets are currently choosing to sell, as opposed to rent out, their homes.

Written by Claire DoyleADNFCR-2002-ID-19162819-ADNFCR

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