Rents rise slightly over past few weeks, new report shows

19 2008
Average rents in the UK rose slightly in February as landlords took advantage of the booming demand for rental accommodation, new figures show.

The latest statistics published by the Association of Residential Letting Agents (Arla) point to an average increase of two per cent on the rent of a flat and a four per cent increase on rent for a typical house over the three months to the end of February.

While those renting in London faced the prospect of paying an extra nine per cent for their properties each month, the south east region in general saw a slight decline in rental prices, though it remains as popular as ever among both students and professionals.

According to Ian Potter, head of operations at Arla, these latest figures are simply a reflection of the latest developments in the UK housing market in general.

"Whenever property prices soften or fall, rental demand, rents and yields all increase," he explained.

"As we begin a year of uncertainty in the sales market, it is inevitable that our member letting agents should report that they have more tenants than properties available for them."ADNFCR-1219-ID-18516386-ADNFCR

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