Rental prices 'still lower than last year'
UK rents increased by 1.2 per cent in September and have risen by 2.6 per cent in the last two months, new research has revealed.
However, according to the LSL Property Services report, the average monthly rent now stands at £669, but this is still 2.5 per cent below last September's figure, which may be good news for those looking for flats to rent in Islington or another part of London.
The strongest rental growth over the last three months has been in London and the south-east where rents increased by 4.5 per cent and 6.5 per cent respectively, the report noted.
Commenting on the news, Chris Horne, editor of Property Hawk, said that this stabilisation of rent was in line with improvements in the economy.
"[People] choose to rent and that is true with a lot of people in London in particular. In the south-east, maybe people are holding off buying and choosing to rent to just wait and see what happens with the housing market," he added.
Written by Andy Britten
Published 19th October, 2009
© 2009 Estates IT Limited
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While average rental prices have increased, they are still lower than last year, new research has found.