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Rents keep rising

‘The latest LSL Property Services buy-to-let index has found that average monthly rents across England and Wales reached £744 in October, up 0.4% on September.

The typical cost of renting a home last month was 3.4% higher than in the same month back in 2011. The biggest increases were in London, up 0.9%, and the south east of England, up 0.7%.

The biggest drop was seen in the East Midlands, where rents fell by 1.8%.

David Newnes, director of LSL, said: “A combination of improved buyer activity and a seasonal slowdown has taken some of the heat out of the rental market. However, despite the deceleration, the fact that monthly rents rose by twice the rate seen a year ago points to the underlying strength of tenant demand”.

The level of late or unpaid rent fell to the lowest level since January, equating to 8.1% of all rent across England and Wales in October.’

Source: The Guardian

Myfanwy Neville

Partner, Property and Construction

T +44 (0)20 8922 9376
E myfanwy.neville@bkl.co.uk

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