Letting agent reports increasing rents

News Category: Industry News

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Conditions for UK letting agents are improving due to the increasing strength of the domestic rental market, according to a new report.

Research conducted by letting agent LSL Property Services has revealed that average rents in England and Wales saw a month-on-month increase in July of 0.5 per cent.

This was the highest rise in more than a year and represented the second monthly increase in a row.

Moreover, tenant arrears were shown to be in decline during the last month, while a reduction in the number of accidental landlords has meant that empty properties are being filled more quickly.

David Brown, commercial director of LSL, suggested that the improvements were attributable to overall economic recovery, which has seen house prices increase and tenant finances become more stable.

This comes after Ian Potter of Arla called for an increase in lending to buy-to-let landlords, in order to help the rented property industry to capitalise on these improving market conditions.

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