Property in the UK: rental prices set a record

Property in the UK: rental prices set a record
Property in the UK: rental prices set a record

Housing rental market in the UK in April 2011 demonstrated an unprecedented rise in prices. This is illustrated by the data of the British consultancy in real estate LSL Property Services.

Growth in consumer demand by 0.8% provided additional income to the lessors. To date the average cost of monthly rent in the UK is about 690 pounds.

Prices for housing rental rose by 4.4% over the past 12 months and beat the previous record, which was installed in the rental market of the Albion in November 2010. It is worth noting that the current rise of prices in April stood at a record level - never in the history of the island property rental prices rose so high.

Rent in London is a traditional leader and a litmus test, by which can be tracked trends in the rental market of the whole country. In the last year rental prices here rose by 7.9% up to the average level of 1000 pounds per object per month.

South-East is a region of the United Kingdom, which has the second fastest rental price-growing region. It rose by 5.7% over the past 12 months.

For Britain the middle of spring is a traditional high season of the market, where before summer break thousands of people are trying to rent a house for the whole year. Thus, the fact of growth is normal, if not the last record-breaking figures.

It is natural that in such situation of excessive demand homeowners did not lose anything. The average price for the last year rent in the UK rose by 30 pounds for an object per month.

In this case in the report of LSL Property Services is noted that in April accumulated unpaid bills for rent in the UK are accounted for 284 million. But some of them did not reach the recipient through the fault of the banks that went on Easter holidays.

Ilya Kalachev

Date: 24/05/2011

Comments (0)

No comments