Landlords 'cautious over rent rises'

News Category: Industry News

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Landlords are remaining cautious over the state of the rental market despite recent rent rises, according to one property expert.

A report by LSL Property Services said that the average rent charged for a residential property in the UK has risen by 2.6 per cent in the past two months to reach £669 per month.

This figure still remains 2.5 per cent lower than the September 2008 figure.

Although the rental market is showing signs of life, landlords are generally not yet willing to begin increasing their rents, according to Chris Horne, editor of website Property Hawk.

"Most landlords are still generally being quite cautious and they are really concentrating on making sure they have got tenants in and reducing any void period," he said.

He added that the rental market was growing more quickly in London and the south-east as it was harder for prospective first-time buyers to get their own place due to the higher property prices in the region.

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