The average rent paid by private tenants in England and Wales reached a new record high in July, of £725 a month, a letting group has said.
LSL, which owns the Your Move and Reeds Rains property chains, said average rents rose by 1% last month and were 2.9% higher than a year ago.This was due to growing numbers unable to get a mortgage, it said.
The number of homes started by builders in England has also fallen again, to the lowest level for three years.
With the population growing and few new houses being built, the demand for homes to rent is rising
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