22 Aug

Average rents increase for third year in a row

Average rents increase for third year in a row

It was recently announced by LSL Property Services that rental prices are currently hovering around the record levels which were seen last year on a monthly basis.

Now some new research has backed up the positive conditions that landlords operating in the buy-to-let sector are finding, after it was revealed that the average monthly rent costs in 2011 showed the third successive yearly rise.

Endsleigh Insurance has said that the prices in 2011, sitting at £706 have increased from the £688 seen in 2010, and the £663 the year before that.

Grant Stevens, general manager of letting services at Endsleigh, said: "Nationally, year-on-year, the picture is one of a very buoyant rental market and, with the overall rise in-keeping with inflation, it won't unduly affect the pockets of either landlords, who are enjoying good yields, or renters."

Surprisingly, the only place where rent prices dropped was central London, which experienced a three per cent drop in 2011 year-on-year.ADNFCR-1222-ID-801434434-ADNFCR

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