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South West rents rise most

By Western Daily Press  |  Posted: December 21, 2013

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The South West saw the biggest increase in private landlord rent over the last year. Private sector rents have risen twice as fast as wages over the last year, a major lettings network has found.

Average rents across England and Wales stood at £753 per calendar month in November, representing a 1.6 per cent increase compared with the same month a year ago, according to LSL Property Services, which owns chains Your Move and Reeds Rains.

LSL compared the annual increase with Office for National Statistics labour market figures showing that wages have risen by 0.8 per cent annually, with pay before tax standing at £1,941 per month.

London recorded the biggest annual increase in rents, with a 4.4 per cent increase pushing the typical rent paid in the English capital to £1,153 a month. Meanwhile, the East of England saw the biggest drop.

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