6 Oct

Buy-to-let property owners see rents reach two-year high

Buy-to-let property owners see rents reach two-year high

People who own buy-to-let properties have seen their rental income reach a two-year high, a report has revealed.

According to research from FindaProperty.com, over the third quarter of 2010 rents in the UK increased by 1.4 per cent.

This brought the average letting fee in Britain to £851 a month - a level which has not been seen since November 2008, the Press Association reported.

The findings also showed that buy-to-let property owners are now charging £47 more a month than they were at the start of 2010.

It is thought that the rise in prices is the result of an increase demand for rental accommodation, with a number of people unable to buy properties.

Results revealed that rents in London jumped by 5.1 per cent during the last three months, while they climbed by three per cent in the south-east and 2.6 per cent in the south-west during the same period.

Last month, the National Association of Estate Agents told landlords that the longer-term trends for the market "remained broadly positive".  ADNFCR-1222-ID-800102198-ADNFCR

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