Rental costs down for second consecutive month

by Sarah Ashcroft

Landlords' rent books may not have been as strong last month as new figures show that the cost of renting a property fell for the second month in a row.

The Buy-to-Let Index from LSL Property Services reveals that throughout England and Wales, the average rent stood at £682 per month, marking a decline of 0.3 per cent from December.

David Newnes, estate agency managing director of the firm, commented: "The recent loosening in the buy-to-let mortgage market has boosted the supply of rental homes on the market, a crucial factor in the temporary drop in rents."

He emphasised that there are more products such as these coming on to the market, which in turn means that more professional landlords are likely to emerge.

Clydesdale & Yorkshire Banks recently found that as many as 30 per cent of people in the UK are hoping to move house at some point this year.

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Published on: February 21, 2011

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