Rental prices rose across the UK

Friday, 17 February 2012 11:59 AM

January recorded its first ever rental rise according to the most recent figures from the LSL buy-to-let index.

The rise of 0.1 per cent saw the average rent in the UK hit £712 per month.

This led to an increase in annual rental inflation which grew from four per cent in December to 4.3 per cent in January.

Some tenants are still struggling to pay their bills with 10.7 per cent of rent recorded as late or unpaid in January.

The West Midlands and South West saw the quickest rise in rental figures with increases of 1.8 per cent and 1.5 per cent respectively.

London is still one of the top performers with another rise, this time of 0.8 per cent.

London has recorded only one fall in rental prices in the past 13 months.

“The rental market burst back into life unseasonably early in January, with tenants on the move trying to take advantage of what is usually a quieter period for the rental market,” director of LSL Property Services David Newnes said.

“The depth of the underlying demand sustained a higher level of competition for rental property during the Christmas period, preventing more severe falls in rents than we’d normally see during the period.”

There were some falls in price recorded despite the overall rise.
Rents in the east of England fell 1.7 per cent while Wales recorded a fall of 1.5 per cent.
 

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