Letting agents see rents rise

News Category: Industry News

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The amount of money letting agents receive in rents is beginning to increase, according to new research.

According to the latest buy-to-let index from LSL Property Services, rents in England and Wales rose to an average of £658 per month in February.

This is an increase of 0.3 per cent from the previous month.

David Brown, a spokesman for LSL, explained that there is a divide between the way the rental market has progressed in the north and south of the country.

"The ripples from the housing downturn are still affecting the market in the north, whereas the south has been enjoying a new wave of optimism over the last year," he commented.

Mr Brown advised landlords to find a balance between capital growth and a steady rental income to provide a "shield" against inflation increasing the cost of living.

This follows research from the University of Leeds and local letting agents including Knight Frank, which found that the rental market in the city is beginning to recover.

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