19 Oct

Monthly rental prices hit an all-time high

Monthly rental prices hit an all-time high

The price of renting a property in the UK has taken another positive turn for landlords looking to get into the buy-to-let sector, or increase the number of homes that they own.

According to the latest figures from LSL Property Services, this has now jumped as high as £741 per month on average across the country. However, it comes amid warnings that there could be a rise in the number of people in debt thanks to issues with meeting their monthly costs.

The report said that there had been a 3.2 per cent rise across England and Wales in what landlords are charging their tenants. It also said that these were 1.1 per cent higher in September than they were in August.

David Newnes, of LSL Property Services, said: "Every pound monthly rents go up by is another pound that renters cannot save for a deposit for their first home. This is lengthening their stay in rented accommodation, and increasing competition in the private rented sector."ADNFCR-1222-ID-801472975-ADNFCR

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