23 Apr

Increased rental demand

Increased rental demand

Demand for rental properties across the UK is on the rise, according to new figures.

The latest report from Sequence shows an increase of one per cent over the past month, with a 16 per cent rise in tenancies agreed.

Letting agents will be pleased to discover this has pushed up the average UK rent to £762 per month, reports Propertywire.com.

There was also particularly strong demand within London as buoyant property prices make it tougher for households to afford their own home.

Over the past month, rents in the capital increased by two per cent to bring the average monthly rent payment to £1,427.

"The figures this month highlight just how much the rental market is growing and proves that a strong sales market does not impinge on the strength of the rental market," said Stephen Nation from Sequence.

He added the number of new rental properties coming on to the market is being outstripped by demand from prospective tenants.

Last month, figures from Move With US revealed rents reached their highest level since the third quarter of 2012.ADNFCR-1222-ID-801714613-ADNFCR

Cookies We use cookies to ensure that we give you the best experience on our website. To find out more about our cookies policy, see our cookies policy here or in the footer.