Nick Millican, a prominent player and CEO of a well-known realty company based in London has noted a mixed bag for UK realty.  In August, the Evening Standard, a popular, free newspaper based in London reported that home prices in August of this year dropped the fastest since 2009. 

Realtors, such as Nick Millican noted a 47% drop in home sales in August, and 68 percent of professional property realtors note a stagnancy in the whole industry. Overall, in the home realty market. At the same time, realtors note an ever-increasing demand for rental homes.

Therefore, most realtors such as the real estate agent Nick Millican anticipated that rental rates would most definitely increase in the next three months. Experts report that primarily due to increasing mortgage rates, there will be a continuing gap between the available amount of homes for rent and those who might want to rent a home.

The experienced real estate agent Nick Millican notes that due to rising interest rates, quite a few landlords are attempting to leave the rental market altogether (Marketoracle). 

At the same time, news reports indicate that rents in London may rise twice as much as home prices over the next four years. Also, real estate expert Nick Millican notes a recent study that shows that the asking price for rentals was a staggering shortfall of what renters have budgeted for making the London real estate market trickier than ever.