Landlord Basics

Rents Rise For 6th Consecutive Month In A Row

Property landlords have got a lot to be happy about after it was revealed that rents have risen for the 6^th consecutive month in a row.

During a recent survey property agents LSL Property Services divulged that rents have risen by 0.5% in July to £676 on average a month – almost 2.3% higher than they were this time last year.

But this is not all they discovered…

Rents are only £12 cheaper than they were 2 years ago! And considering that demand for rental properties is far exceeding supplies it is unlikely that rents will fall anytime soon, even when interest rates begin to rise again.

In fact, LSL Property Services are fairly confident that rising interest rates will contribute to rental increases as property investors will be forced to raise rents to help compensate for higher mortgage costs.

However this is not all property investors have got to celebrate. According to LSL Property Services rental arrears are at their lowest levels since 2008, with only 9.2% accounting for all rent across the UK, instead of 11.2%.

Related posts:

1. UK Rents Rise 0.1% Per Month
2. Rents Rise 2.3%!
3. Buy To Let Rents Top 2008 Highs
4. Buy To Let Lending Rises For 3rd Consecutive Row In A Row
5. Landlords see falling arrears and rising rents

Tags: property investors, property services, rental property

This entry was posted on Friday, August 20th, 2010 at 7:40 am and is filed under buy to let, News. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.