Menu
17/08/2012
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.
LSL said rents were rising fastest in London and the South East, with the average rent in the capital now at £1,057 a month.
"The backlog of frustrated first-time buyers in the private rented sector showed no sign of clearing in July - in fact, it is still growing," said David Newnes, of LSL.
"As lending to those without substantial deposits remains depressed, demand for rented accommodation can only go one way in the long-term - providing further upward momentum for rents.
"The rental market is also entering its summer peak, as recent graduates and those with new jobs begin to look for new accommodation," he added.
(H)
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.
LSL said rents were rising fastest in London and the South East, with the average rent in the capital now at £1,057 a month.
"The backlog of frustrated first-time buyers in the private rented sector showed no sign of clearing in July - in fact, it is still growing," said David Newnes, of LSL.
"As lending to those without substantial deposits remains depressed, demand for rented accommodation can only go one way in the long-term - providing further upward momentum for rents.
"The rental market is also entering its summer peak, as recent graduates and those with new jobs begin to look for new accommodation," he added.
(H)
Related UK National News Stories
Click here for the latest headlines.
18 May 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.
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.
06 March 2009
Beckett Cuts Planned Council Rent Increases In Half
Housing Minister Margaret Beckett has today announced new support to help councils cut their planned rent increases in the current economic climate. The average guideline rent increase for 2009/10 will be halved from 6.2% to 3.1% for local authority tenants, to encourage councils to reduce the amount tenants would have to pay for the coming yea.
Beckett Cuts Planned Council Rent Increases In Half
Housing Minister Margaret Beckett has today announced new support to help councils cut their planned rent increases in the current economic climate. The average guideline rent increase for 2009/10 will be halved from 6.2% to 3.1% for local authority tenants, to encourage councils to reduce the amount tenants would have to pay for the coming yea.
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.
13 October 2011
Over Half Face Unaffordable Rent
A charity working for the rights of homeless people has published a report saying working families face unaffordable private rents in over half of local authorities in England.
Over Half Face Unaffordable Rent
A charity working for the rights of homeless people has published a report saying working families face unaffordable private rents in over half of local authorities in England.
-
Northern Ireland WeatherToday:After a dry start this morning rain will spread from the northwest across all parts. This afternoon will be dull with some patchy rain and drizzle. Becoming much milder through the afternoon. Maximum temperature 11 °C.Tonight:A cloudy evening and night with a little light rain or drizzle, perhaps some clear periods developing along the east coast. A very mild night everywhere. Minimum temperature 10 °C.
