Record rents trap tenants in a vicious circle | Money | guardian.co.uk
Rents in England and Wales rose for the sixth month in a row in July to a record high of £705 a month, plunging struggling first-time buyers into a "vicious circle" with spiralling rents making it impossible for them to save the deposit to buy a home.
Despite annual rent inflation reaching 4.2%, the latest LSL Property Services buy-to-let index shows the rate of increase is slowing, with July's figure just 0.6% higher than June's average rent of £701 and only £29 a month more than the July 2010 average.
In the year to July rental prices rose the fastest in London,...
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