I think this the underlying problem with price falls: there is generally a point where someone with more money will step in and get the “bargain” before the price has fallen any further.
This sort of development will keep a cap on rent increases IMO. As the HP drops to what are construed as more affordable levels there will be people who will jump in and leave the rental markert in some instances. This is the problem for all the VI’s is that yields will be kept low because of the huge supply of new builds coming through
