The Press Association: Rental market sees 'early spring'

The Press Association: Rental market sees 'early spring'

Rents are back on the rise after the market sprung into life "unseasonably early" this year, lettings agents have said.

The typical rent rose by 0.1% in January to £712 a month in England and Wales, the first month-on-month rise since October, according to LSL Property Services, which owns chains Your Move and Reeds Rains.

This also marks the first time there has been a rent rise in the month of January since the records began in 2008. The market saw a boom last year as trapped renters were unable to raise the deposits needed to get on the property ladder, although rents eased back slightly towards the end of 2011.

David Newnes, director of LSL Property Services, predicted more rent increases as housing market transactions remain low. He said: "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.