Private rents have soared for the fifth month in a row to reach a new high as pressure on the sector continues to be ramped up, a study has found.
Typical monthly rents increased by 2.9% year-on-year to reach £734 in August, surpassing a previous peak of £725 recorded in July, according to lettings network LSL Property Services, which owns chains including Your Move and Reeds Rains.
The study put the latest increase down to the seasonal effect of a wave of graduates starting new jobs, on top of strong competition already caused by frustrated would-be buyers who are unable to raise a mortgage deposit or meet lenders' toughened borrowing criteria.
The study put the latest increase down to the seasonal effect of a wave of graduates starting new jobs, on top of strong competition already caused by frustrated would-be buyers who are unable to raise a mortgage deposit or meet lenders' toughened borrowing criteria.
No comments:
Post a Comment