2 Jul

Rental prices see strong UK growth

Rental prices see strong UK growth

The cost of renting buy-to-let properties has risen across most of the regions in England in the last year, with the 12-month period ending in May throwing up rises of 1.3 per cent.

Newly-released governmental data has said the cost of renting rose in the last year across eight of the nine English areas, even though more and more people found it easier to get a mortgage to buy their own house.

The latest Office for National Statistics (ONS) figures have shown that the cost of living in the private rented sector has also increased by a staggering 8.4 per cent in the last eight years.

London saw the biggest swell in what residents were having to pay landlords, with the charges rising by 11 per cent in the time since 2005.

This compares to the north-east and East Midlands, where growth was far more subdued, failing to top 5.3 per cent in each of the areas.ADNFCR-1222-ID-801607084-ADNFCR

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