Rents are at an all-time high

Yorkshire Post - Property - - PROPERTY -

RENTS in Eng­land and Wales have hit an all-time high at an av­er­age of £744 a month, say LSL. How­ever, the pace of the rise has slowed and ten­ant ar­rears have fallen to their low­est level for nearly two years. Ten­ants saw av­er­age rents rise by 0.4 per cent in Oc­to­ber, the slow­est rate of in­crease since May.

De­spite the slow­down, the monthly rise is dou­ble the size of the 0.2 per cent in­crease in the same pe­riod last year. Af­ter seven months of rent rises, rents are 3.4 per cent higher than the same point last year. David Brown, of LSL Prop­erty Ser­vices, says: “De­spite the de­cel­er­a­tion, the fact that monthly rents rose by twice the rate of a year ago points to the un­der­ly­ing strength of ten­ant de­mand.

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