19 Jun

Landlords see rents reach £696 in May

Landlords see rents reach £696 in May

The average rental price in the UK in May was £696 per month, according to new figures released this week.

Smartlandlord.co.uk's Buy-to-Let Index for the month also showed that the proportion of tenants who are students increased from 1.1 per cent to 5.8 per cent - it cited the difficult employment market as the reason for this upturn.

Indeed, unemployment exceeded two million in March and it has been estimated that it could reach close to three million by the end of the year.

Keshav Thukaram, managing director of Smartlandlord.co.uk, said that areas just outside London have experienced "a surge" in tenant demand due to people wanting to leave the capital in the wake of the economic downturn.

Offering advice to landlords and property investors, he added: "This is the perfect time to snap up bargain properties that over the long term will yield great returns."

However, he warned them to think about the factors that may affect their "medium-term cash-flow" and ensure they protect themselves.

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