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PRIVATE RENTS RISE BY HALF A PER CENT

PRIVATE RENTS RISE BY HALF A PER CENT (Renting - House / Flat)

by administrator @, Tuesday, May 22, 2012, 13:21

Private rents in England and Wales went up by 0.5 per cent during April, while arrears topped £300 million, according to figures from LSL Property Services.

Average rents are now 2.4 per cent higher than at the same time last year. London saw the largest year-on-year increase, with rents in the capital an average of 4.5 per cent more expensive than in April 2011.

During the same period, only the east midlands saw a decrease, with rents falling by 1.7 per cent in the region. The news comes after housing minister, Grant Shapps challenged claims made by Shelter that rents were on the rise.

Mr Shapps used previous LSL Property Services figures that showed small drops in rent in February and March to support his claim.

The latest LSL Property Services figures also showed that almost 10 per cent of all rent in April was either late or unpaid. Total arrears for the month stood at £306 million, compared with £267 million in March.

www.lslps.co.uk


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