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Rents Rise Fast

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Rents Rise Fast

LSL Property Services has confirmed what a lot of us have seen, that massive demand for rental properties has pushed up prices significantly. Rents are now over seven hundred pounds a month across Wales and England.

This means that rent has risen over four per cent in the last year alone.

David Newnes, of LSL, said: "Tenant demand continues to reach ever higher peaks - and there simply isn't enough rental property coming onto the market to match it.

"In areas like London where competition for rental property is most intense, it's not unheard of for rental properties to be let within a day of coming on to the market.

"We've had five successive months of rent rises, but there is no sign of a let-up anytime soon," he added.

Until big action is taken on property shortages we expect the trend to continue.

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