15 Oct

Buy-to-let rents 'reach record high'

Buy-to-let rents 'reach record high'

Buy-to-let owners are likely to be happy to hear that rents have reached a record high, according to a recent report.

LSL Property Services has revealed in its Buy To Let Index that in September 2010 average rent crept up to £698 a month, which represents an increase of 3.1 per cent over the last year.

Commercial director of LSL David Brown said: "Landlords have seen tenant demand continue to hit new heights."

He stated that demand for rental housing continues to increase and the buy-to-let industry has turned into a "landlord's market".

The National Landlords Association (NLA) has said that while rents have increased on average across the whole country, the area with the biggest rise was London.

This coincides with the LSL Property Services' figures, which revealed that landlords in the capital increased their rents by 1.1 per cent in September, taking the average cost to £972 per month. ADNFCR-1222-ID-800118677-ADNFCR

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