Saturday, 16 April 2011

News: Private rented housing prices climb 4.2 percent in 12 months - UK Net Guide

News: Private rented housing prices climb 4.2 percent in 12 months - UK Net Guide

The cost of private rented accommodation has risen by 4.2 per cent since March 2010, a new report has revealed.

LSL Property Services said that the average monthly cost for a rental home in England and Wales reached £687 last month.

This marked a 0.4 per cent rise from February's figures and the second consecutive month that the rates charged by landlords climbed.

Unprecedented demand has been seen in the private rented market, as a result of high home prices, stagnant house sales and a restricted mortgage sector, resulting in first-time buyers being priced out of reaching the property ladder.

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