‘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