Rents rise twice as much as earn­ings

Yorkshire Post - Property - - PROPERTY -

RENTS have risen at twice the an­nual rate of weekly earn­ings, ac­cord­ing to the lat­est Buy-to-Let In­dex from LSL.

Av­er­age rents across Eng­land and Wales stand at £753 per month in Novem­ber, up 1.6 per cent com­pared with Novem­ber 2012. In com­par­i­son, wages had risen by just 0.8 per cent on an an­nual ba­sis. Av­er­age reg­u­lar pay be­fore tax stands at £1,941 per month. Rents across Eng­land and Wales re­main sig­nif­i­cantly higher than a year ago, de­spite a sea­sonal drop of 0.7 per cent from Oc­to­ber. The LSL fig­ures are largely borne out by Se­quence, which says na­tional av­er­age monthly rent is now £777, up 10 per cent from last year.

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