Rents fall back across most of UK, says LSL

Rents fall back across most of UK, says LSL

Rents fell in November for the first time since March, but are still 3.4% higher than in November last year.

The latest LSL rent survey, which measures asking price rents, says that the average rent was £741 last month.

The largest fall was in the South-East where rents dropped 1.9% – the region’s first monthly decline since February.

Rents in the North-West and West Midlands fell 1.1% and 1% respectively.

Rents rose the fastest in Wales and Yorkshire and the Humber, while in London rents went up just 0.2%.

On an annual basis, rents are higher than a year ago in all but Wales. Rental growth was the highest in London, where rents were 6.9% higher than in last November and hit a new peak of £1,104.

LSL estimates that the total amount of rent late or unpaid fell to the lowest level since June 2010, with total arrears of £241m, down from £265m in October. This equates to 7.4% of all rent across England and Wales.

 
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