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Rent rise is fastest for a year, says LSL
http://www.x404.co.uk/forum/viewtopic.php?f=19&t=14759
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Author:  Amnesia10 [ Fri Sep 16, 2011 12:17 am ]
Post subject:  Rent rise is fastest for a year, says LSL

http://www.bbc.co.uk/news/business-14934316

Quote:
The cost of renting a home rose at its fastest rate in a year - with the average tenant paying £713 a month, a survey has said.

Tenants paid 1.2% more on average to rent a property in the UK in August than they did in July, according to LSL Property Services.

The cost rose quickest in Wales and the South East of England in the last month.

Tenant arrears increased for the first time since April, the survey added.

"We are in the thick of the busiest time of year for the rental market, and red-hot demand for properties is driving rents up at their fastest monthly pace in the last 12 months," said David Newnes, LSL's estate agency managing director.

"Recent graduates moving for their first jobs have further exaggerated the long-term and growing demand from frustrated buyers.

"In the last two years, average rents have risen by more than £50 a month."

That is going to bugger up the Chancellors supposed savings on housing benefit. Everyone could have told him that it would push up rents especially at the bottom. Wiping out any savings that he expected. :roll:

Author:  belchingmatt [ Fri Sep 16, 2011 6:40 am ]
Post subject:  Re: Rent rise is fastest for a year, says LSL

Quote:
The cost of renting a home rose at its fastest rate in a year - with the average tenant paying £713 a month, a survey has said.

"In the last two years, average rents have risen by more than £50 a month."


Something doesn't add up there.

Author:  davrosG5 [ Sat Sep 17, 2011 2:52 pm ]
Post subject:  Re: Rent rise is fastest for a year, says LSL

Well, my rent has gone up this year (3%). Shame my pay hasn't gone up to compensate.

Author:  hifidelity2 [ Sat Sep 17, 2011 4:55 pm ]
Post subject:  Re: Rent rise is fastest for a year, says LSL

belchingmatt wrote:
Quote:
The cost of renting a home rose at its fastest rate in a year - with the average tenant paying £713 a month, a survey has said.

"In the last two years, average rents have risen by more than £50 a month."


Something doesn't add up there.

yes it does

More people cannot afford to buy a house so they are forced to rent. There is a limited supply of places to rent so rents go up

Author:  belchingmatt [ Sat Sep 17, 2011 5:26 pm ]
Post subject:  Re: Rent rise is fastest for a year, says LSL

On the figures provided I see that the average rent in the last two years has risen by 1200 GBP, and that the current average rent is 713 GBP.

Author:  hifidelity2 [ Mon Sep 19, 2011 9:16 am ]
Post subject:  Re: Rent rise is fastest for a year, says LSL

belchingmatt wrote:
On the figures provided I see that the average rent in the last two years has risen by 1200 GBP, and that the current average rent is 713 GBP.


MAybe the 1st figure was a p.a. increase rather than a monthly increase

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