Menu
18/05/2012
LSL Say Private Rents On The Rise
New figures published by letting agency group LSL Property Services have shown that private rents in England and Wales rose by 0.5% in April, pushing the average rent up to £709 a month.
It was the first recorded increase for three months, and left rents 2.4% higher than a year ago.
The figures, gathered from the rents paid on 18,000 homes, show that rents are highest in London, where they have risen by 4.5% in the past year to an average of £1,032 per month, a rise that has left them 46% higher than the national average.
David Newnes of LSL said the rental market had begun to "heat up" in April.
"As fewer tenants rushed to leave the sector, competition for rental accommodation intensified, and rents rose correspondingly," he said.
"Tenant demand will only strengthen, providing impetus for rental inflation in the long-term."
LSL noted that the level of arrears among tenants had become worse again, with nearly 10% of all rents late or in arrears.
"Many tenants' finances suffered in April as a result of seasonal spending over the Easter period, not to mention the increasing cost of renting," said Mr Newnes.
"Despite several monthly dips in 2012, rents are still rising at a faster rate than wages annually.
"With a faltering economy, and further public sector job losses to come, an increasing number of rented households will see their finances stretched," he warned.
(H)
It was the first recorded increase for three months, and left rents 2.4% higher than a year ago.
The figures, gathered from the rents paid on 18,000 homes, show that rents are highest in London, where they have risen by 4.5% in the past year to an average of £1,032 per month, a rise that has left them 46% higher than the national average.
David Newnes of LSL said the rental market had begun to "heat up" in April.
"As fewer tenants rushed to leave the sector, competition for rental accommodation intensified, and rents rose correspondingly," he said.
"Tenant demand will only strengthen, providing impetus for rental inflation in the long-term."
LSL noted that the level of arrears among tenants had become worse again, with nearly 10% of all rents late or in arrears.
"Many tenants' finances suffered in April as a result of seasonal spending over the Easter period, not to mention the increasing cost of renting," said Mr Newnes.
"Despite several monthly dips in 2012, rents are still rising at a faster rate than wages annually.
"With a faltering economy, and further public sector job losses to come, an increasing number of rented households will see their finances stretched," he warned.
(H)
Related UK National News Stories
Click here for the latest headlines.
19 October 2012
Rents Reached Record High In September
Rents in England and Wales reached a record high in September when they rose by a further 1.1%, a survey has said. LSL Property Services, which owns the Your Move and Reeds Rains property chains, said that the average rent was now £741 a month. This was 1.1% higher than August and 3.2% up on the same month a year earlier.
Rents Reached Record High In September
Rents in England and Wales reached a record high in September when they rose by a further 1.1%, a survey has said. LSL Property Services, which owns the Your Move and Reeds Rains property chains, said that the average rent was now £741 a month. This was 1.1% higher than August and 3.2% up on the same month a year earlier.
18 October 2013
Private Rents Reach Record High
A property survey has found that the average cost of private rentals in England and Wales have risen by 2.1%, reaching a record high. According to the LSL Property Services produced report, average rents across England and Wales now stands at £757 per month. In September there was a 2.1% increase on the same month a year previous and a 1.
Private Rents Reach Record High
A property survey has found that the average cost of private rentals in England and Wales have risen by 2.1%, reaching a record high. According to the LSL Property Services produced report, average rents across England and Wales now stands at £757 per month. In September there was a 2.1% increase on the same month a year previous and a 1.
17 August 2012
Rental Prices At 'Record High'
Private tenants in England and Wales are paying an average rent of £725 a month, a new record high, according to a letting group. LSL, which owns the Your Move and Reeds Rains property chains, said average rents rose by 1% last month and were 2.9% higher than a year ago. This was due to growing numbers unable to get a mortgage, it said.
Rental Prices At 'Record High'
Private tenants in England and Wales are paying an average rent of £725 a month, a new record high, according to a letting group. LSL, which owns the Your Move and Reeds Rains property chains, said average rents rose by 1% last month and were 2.9% higher than a year ago. This was due to growing numbers unable to get a mortgage, it said.
04 March 2011
Rents Rise Rapidly As Demand Grows
Strong tenant demand and falling supply pushes prices higher according to the latest RICS Residential Lettings Survey for November 2010 - January 2011. Rents rose at a rapid pace in the three months to the end of January, as falling supply of rental properties and strong tenant demand continued to drive prices upwards.
Rents Rise Rapidly As Demand Grows
Strong tenant demand and falling supply pushes prices higher according to the latest RICS Residential Lettings Survey for November 2010 - January 2011. Rents rose at a rapid pace in the three months to the end of January, as falling supply of rental properties and strong tenant demand continued to drive prices upwards.
22 October 2012
Escalation In Working Families Relying On Housing Benefit
Since the recession began in 2008 the number of working households relying on housing benefit has doubled, according to a new report.
Escalation In Working Families Relying On Housing Benefit
Since the recession began in 2008 the number of working households relying on housing benefit has doubled, according to a new report.
-
Northern Ireland WeatherToday:A showery start with outbreaks most frequent north of Lough Neagh and through the morning, before dwindling during the afternoon as the northwest breezes ease and brighter spells of weak sunshine prosper. Maximum temperature 8 °C.Tonight:A dry night, save for a few light showers around the coasts, with prolonged clear spells and light winds bringing a frosty dawn for many in central and southern parts. Minimum temperature -3 °C.
