Prices set to rise
Landlord Assist, the nationwide landlord services firm, believes that rental prices will continue to increase in 2013 despite rents rising at their lowest rate over the past five months.
A recent survey from LSL Property Services showed that rents across England and Wales rose by 0.4 per cent in October, the lowest rate of increase since May. Despite the apparent slowdown, the monthly increase was still double the 0.2 per cent rate of increase in the same period last year.
After seven months of rent rises, rents are now 3.4 per cent higher than at the same time last year.
This has brought average rent in England and Wales to a new high of £744 per month.
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Graham Kinnear, managing director at Landlord Assist said: "We feel sure that the upward pressure on rents will continue for the foreseeable future. There is clearly still a huge shortage in the quantity of accommodation and with first time buyers not taking the plunge until they are well into their thirties there is a huge and growing demand for rental accommodation."
To help tenants in the current market and to assist movement in the housing sector Landlord Assist has launched a Deposit Replacement Warranty scheme.
For more information contact 08707 662288 or visit www.landlordassist.co.uk.