Rents rises continue as demand grows
Rents across the UK have reached a high of £689 per month. According to the new LSL rental index, they have risen for eight consecutive months.
This year’s rise has been largely driven by the south-east and London, where rents are also the highest on record, at an average £972 a month – a rise of 6.8 per cent since the start of the year. However, there were modest falls in the South-West and North-West.
LSL also estimates that 10 per cent of all rents are currently in arrears. Buy-to-let lender Paragon agrees. Nigel Terrington, Paragon Group chief executive, says: “Demand for private rented property is buoyant.”