Sequence report a rise in rents

The latest rent report from Sequence, the 300 strong letting agency chains that includes the Barnard Marcus, William H Brown and Fox & Sons brands show rising rents.

Their rental data shows a 1 percent rise in the last month, with average rents at £762 per month. New  tenancies have also seen a rise, up by 20% annually.

London rents have seen the biggest rises, with average rent up 4% annually to £1,427 per month, and new tenancies up by 37% on the year. The report claims that there are now six prospective tenants fighting over every new rental property in the capital.

Head of lettings for Sequence, Stephen Nation said 

‘The number of new rental properties coming onto the market has failed to keep up with demand, remaining flat on the month, which is why we have seen a growth in rents’.