Rents to rise by 3.9%

The RICS the body representing chartered surveyors predict that rents in the UK will rise by 3.9% on average across the UK over the next 12 months in their latest quarterly survey.

The report recognises that in the three months to July, the number of properties coming on to the market was little changed. However, demand among tenants is continuing to grow and has outpaced the change in supply since the first half of 2009, although the gap has recently narrowed.

Rents are up 3% over the last 6 months according to the Rentindex and now stand at just under £615 per month.

The RICS survey highlighted strong regional variations with the north-west experiencing the biggest increase with a 6.9% rise, whereas surveyors in Wales reported that rents had remained flat over the past 12 months.

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