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Tuesday, September 18, 2012

London and south east rents over-heating

According to a recent Rightmove survey about a third of renters are spending over half their income on rent fuelling warnings the rents are becoming unaffordable.

The average rent for a two bed flat in the capital is reported to have risen by 5.8% over the past year to £1272.

 Director of Rightmove, Miles Shipside commented that "These 'trapped renters' are faced with the prospect of a downward spiral where spending more income on rent also means saving less for a deposit,"
Which draws the conclusion that rental demand is set to stay high.

The Rightmove data also recorded that landlords are achieving rental yields of  an average of 6% across the UK.

Read more in the Guardian

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