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Rents up just 2.4 per cent in past year, government figures show

Rents up just 2.4 per cent in past year, government figures show

Average rents paid by tenants across Great Britain rose by 2.4 per cent in the 12 months to July, according to the Office for National Statistics. 

Rents grew by 2.6 per cent in England and a tiny 0.2 per cent in Scotland over the year; they were completely static in Wales.

Rents increased in all the English regions over the year to July, with the largest hike in the south east, up 3.5 per cent. The smallest rise was in the north east, up just 0.9 per cent.

However, even these rent rises are on average above the increase in wages and demonstrate a national problem according to Richard Connolly, chief executive of rent-to-buy housebuilder Rentplus.

"The annual jump in private rental prices ... is a stark reminder of the struggles that many people living in private rented homes are facing in saving a deposit to buy their first home - which remains the biggest barrier to ownership," he says. 

"The struggles are numerous with aspirant home owners in the current climate also facing rising fuel bills, low salary growth and low interest rates from savings accounts."

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