Rents rise as demand soars

The Association of Residential Letting Agents (ARLA) has found that over half (56%) of their members reported that rents have risen of the past 6 month.

This compares to 53% three months ago.

The increase is due to a rise in tenants looking to rent. The report found that 74% of ARLA members said there were more prospective tenants than properties in the second quarter of 2011.

This compares to only 10% just 2 years ago.

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