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Good News for Landlords

Rents have risen, for the first time on record, in every region in England and Wales, with the most rapid increase being in the South East and the Midlands.

In September 2011, the average rent in England and Wales rose by 0.7% to £718 per month, beating August’s previous record high of £713.

This rise was recorded in the latest buy-to-let index published by LSL Property Services who are the parent company of the national chains Your Move and Reeds Rains. The commerical director from LSL said, “No reigion has been immune to the growing demand for rental homes from frustrated buyers.”

The report also found that there has been a marked improvement in tenant arrears, dropping to the lowest level since April 2010. Only 6.8% of all UK rent was unpaid of late by the end of September 2011. Great news all round.

 

 

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