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Monday, April 18, 2011

Rents up 4.2%

Rents rise again according to the Buy-to-let Index produced by LSL Property Services.

In March rents rose by 0.4% in England and Wales to an average monthly rent of £687.  This means that rents are now 4.2% higher on an annual basis.

The biggest rent rises were seen in the East of England where they increased by 2.2%.

Rents in London have powered ahead over the last year soaring by 7.3% with the South East following close behind with a 6.7% rise.

Commenting on the figures Chris Horne Editor of Property Hawk observed:

"These figures are not surprising reflecting the strength in the rental market as more people continue to choose to rent rather than buy, because of mortgages and affordability issues."

"These factors are particularly strong in London and the south east which is reflected in the relative strength of this rental market."

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