The average rent for new tenancies in the UK, excluding London, is now £744 per month – up 4.8% on a year ago.
In London, the average monthly rent on new tenancies signed during the three months to February was £1,521 – 7.7% higher than in the same period a year ago.
Referencing company Homelet said that rents on new tenancies are continuing to rise more quickly than inflation almost everywhere.
HomeLet’s research also shows that as rents have risen in recent years, the number of new tenancies signed by a single tenant has fallen.
Last year, single tenants accounted for just 33% of new tenancies on rental properties, down from 67% in 2008.
By contrast, the proportion of new tenancies signed by two tenants rose from 28% to 52% over the same period. New tenancies signed by three or more tenants have risen from 5% to 15% of the market.
Homes with four or more tenants accounted for 7% of the market last year, up from 2% in 2008.
Well, Well, Mr. Osborne, what a surprise, I bet you can’t guess who has caused this and hurt the poor tenant where it hurts everyone the most ??? Oh and by the way, why is it that every bit of evil legislation appears to bear your name on it these days, what has happened to that Cameron Chappy ?
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