Rent: It is going up, unsurprisingly

16 January 2015

pay rent In 'is the Pope catholic?' news, a new survey has found that the cost of renting a home in England and Wales has gone up by 3% over the course of 2014. The average cost of rent, per month, is apparently £767 a month, up from 2013's £745, according to LSL Property Services.

"Recent months have shown a divergence from usual seasonal norms. Historically, there is a tendency for rents to ease in the winter, particularly December," said Adrian Gill, director of LSL.

Rents fell slightly over Christmas, but not by a great deal.

"With fewer tenants willing to relocate in the festive period, landlords usually compete to fill empty properties and agreed rents tend to dip as a result. Last month that happened - and rents fell compared to November - but by much less than the usual extent."

On the rise, was the proportion of tenants in arrears in December and the stats are showing that the cost of renting rose in eight out of 10 regions in England and Wales throughout 2014, unless you live in the North East of England, or the South West of England.

If you're looking at moving, while renting, then the BBC have a lovely calculator thing, where you can find out the places you can't afford to live.

TOPICS:   Banking   Mortgages

2 comments

  • _me_
    i wouldn't worry too much. Overall, rent has been decreasing for some time compared with rise in living costs. with the number of BTLers about to flood the market thinking it's an easy win, rent will go down. this will push housing prices up and renting will become even more common than it is.
  • LoisHamAlTone
    Arrgh. not renting. And once the first time BTLers (after cashing in their pensions) realise they aren't making enough to retire to necker island, they will leave their 'portfolio' of starter flats and family homes to rot under their tenants feet. Just like my old house, which had fist sized holes in the external walls while the landlord fretted on facebook about finding suitable airfield space for his private plane. Seriously now, its getting silly. Just regulate rents in the UK, like all those other sensible EU countries and enforce a decent standard of accomodation. And watch all those rented houses return to the open market. Homes shouldn't be investment vehicles, collected by BTL landlords who simply managed to get there first.

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