20 Jun

Rate rise for houses to rent in Kent

Rate rise for houses to rent in Kent

Landlords with property to rent in Kent may see increased yields this year, research has suggested.

The south east of England saw rent rates rise to £707 in May, revealing a 5.3 per cent increase, according to LSL Property Services' latest buy-to-let index.

Rental yields for 2011 were found to be 4.7 in May, rising from 4.4 per cent in May 2010.

The highest rent rises applied to houses to rent in London, the index found, with buy-to-let investors in the capital enjoying annual returns of nearly five times the national average.

Overall, average rental costs hit a record high in May following four consecutive months of price growth.

The average monthly charge is now £696, a 0.5 per cent increase from the previous month.

David Brown, commercial director of LSL Property Services, says demand for rental homes has been "bubbly in recent months.

He explained: "With the fierce competition for homes, rental gazumping is becoming more commonplace and properties are being let beyond asking price, putting further upwards pressure on the market."ADNFCR-1222-ID-800585321-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.