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Rents on The Rise

Rents on The Rise

Rents hit another record high in June, surging beyond the £700 per month barrier for the first time, says a new report out today.

The latest Buy-to-Let Index from LSL Property Services, which owns national chains Your Move and Reeds Rains, says that in June, the average asking price rent in England and Wales rose by 0.7% to £701 per month, surpassing the previous high of £696 in May.

With an annual inflation of 4.1%, the average rent is now £28 per month higher than June 2010. As a result of dipping house prices and increasing rents, the average yield reached 5.2% in June, up from 5.1% in May.
Source Landlord Today 15/7/11


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