Rents continue to rise

Published on

Rents were up 1.4% in August, the third consecutive monthly increase and the fastest growth since July 2008.

This is according to the latest Rental Index from LSL Property Services, which owns the UK’s largest lettings agent network, including national chains Your Move and Reeds Rains.

Between June and the end of August, UK rents rose at an annualised pace of 8.2%, far outstripping inflation. The average UK rent is now £661, up from the February low point but still 4% below the peak of August 2008.

Rents rose in every region except Yorkshire and the Humber and the East Midlands.

Over the last three months, house prices have recovered by 2.9%, equivalent to an annualised increase of 12.3%. Yields have slipped fractionally from their peak of 5.1% in April to just under 5.0% in August, but remain well above the 4.2% low point reached at the end of 2007 before house prices began to fall sharply.

David Brown, commercial director of LSL property services said: “Sharply lower supply of rental housing

Latest POLL

COMMENT ON MORTGAGE SOUP

We want to hear from you!
Leave a comment and get the conversation started.
You need to register to post, so please login or sign up below.

Latest articles

Spring surge in property listings creates market opportunities

The average asking price for newly listed properties has risen by 1.1% (+£3,876) this...

Secure Trust Bank Commercial Finance appoints senior portfolio director

Secure Trust Bank Commercial Finance (STB CF) has announced the appointment of Carl Pykett...

Inflation expectations rise slightly as BoE releases latest survey

Public expectations for inflation and interest rates have edged higher, according to the Bank...

£1 billion lost annually as 50,000 London social homes used fraudulently

A shocking new report reveals that around 50,000 social housing properties in London are...

Other news

Spring surge in property listings creates market opportunities

The average asking price for newly listed properties has risen by 1.1% (+£3,876) this...

Secure Trust Bank Commercial Finance appoints senior portfolio director

Secure Trust Bank Commercial Finance (STB CF) has announced the appointment of Carl Pykett...

Inflation expectations rise slightly as BoE releases latest survey

Public expectations for inflation and interest rates have edged higher, according to the Bank...