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Rents Rise To 'record Levels'

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http://www.theguardian.com/money/2013/oct/18/rents-rise-record-levels

Rents across England and Wales hit record levels in September, with the average price paid by private tenants hitting £757 a month, according to research from property firm LSL.

The housing charity Shelter called for the government to "fix" the market, after LSL, which runs the UK's largest lettings agent network, said rents had risen by 1.8% over the month and were £13 a month higher than their previous peak, reached in October 2012.

LSL said rents have never been higher in Wales, the West Midlands, the East Midlands, the north-west, Yorkshire and the Humber, London and the south-east, but there have been dips in some regions.

While in the south-east of England average rents rose by 3.3% month-on-month to £787, in the east of England they dropped by 0.8% to £739.

The cheapest region to rent in is the north-east, where tenants paid an average of £533 a month in September, while the most expensive is London, with an average of £1,141.

More great ramping news to encourage more BTL.

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The figures cover a period before the launch of the government's Help to Buy mortgage scheme, which is designed to aid people with small deposits to get on the housing ladder.

Some commentators have suggested that this will lead to a fall in rents, as tenants are finally able to move out of the rented sector and into their own homes. However, David Newnes, director of LSL Property Services, said he expected demand for rented homes to remain strong.

And where are the people currently living in the houses that the tenant buys going to move to?

anyway, we will have to wait a few months for the real trend to show. Th ONS and Savills show that rents are falling, so perhaps there is a lag in this data set.

One thing is clear is that rent arrears are steadily rising and this is certainly good news.

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This 'index' is compiled by a public relations firm on behalf of LSL Property Services.

A quote from LSL's Buy-to-Let report, released today:

"If rental property prices continue to rise at the same pace as over the last three months,

the average buy-to-let investor in England and Wales could expect to make a total annual

return of 13.6% over the next 12 months, equivalent to £23,028 per property."

Where do I sign?

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This 'index' is compiled by a public relations firm on behalf of LSL Property Services.

A quote from LSL's Buy-to-Let report, released today:

"If rental property prices continue to rise at the same pace as over the last three months,

the average buy-to-let investor in England and Wales could expect to make a total annual

return of 13.6% over the next 12 months, equivalent to £23,028 per property."

Where do I sign?

I guess there'd be no news without VI press releases. I guess it makes it easy for the press, saves them having to write it themselves.

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This 'index' is compiled by a public relations firm on behalf of LSL Property Services.

A quote from LSL's Buy-to-Let report, released today:

"If rental property prices continue to rise at the same pace as over the last three months,

the average buy-to-let investor in England and Wales could expect to make a total annual

return of 13.6% over the next 12 months, equivalent to £23,028 per property."

Where do I sign?

Wow more than post people earn in a year. We can all live off rents and do nothing!

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I guess there'd be no news without VI press releases. I guess it makes it easy for the press, saves them having to write it themselves.

True, and it's very much a matter of selective interpretation and presentation.

The other day we had another rental survey (Homelet) showing a record high in average UK rents, but a closer look at the underlying regional breakdown told a different story. Rents fell month-on-month in 9 out of the 12 regions.

At least Homelet's marketing director had the good grace to admit that the headline results were deceiving.

HomeletRentIndexSep13.gif

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"If rental property prices continue to rise at the same pace as over the last three months,

:lol::lol::lol::lol: Locked in.

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This 'index' is compiled by a public relations firm on behalf of LSL Property Services.

A quote from LSL's Buy-to-Let report, released today:

"If rental property prices continue to rise at the same pace as over the last three months,

the average buy-to-let investor in England and Wales could expect to make a total annual

return of 13.6% over the next 12 months, equivalent to £23,028 per property."

Where do I sign?

That's a "golden opportunity" I am missing. :blink:

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True, and it's very much a matter of selective interpretation and presentation.

The other day we had another rental survey (Homelet) showing a record high in average UK rents, but a closer look at the underlying regional breakdown told a different story. Rents fell month-on-month in 9 out of the 12 regions.

At least Homelet's marketing director had the good grace to admit that the headline results were deceiving.

...

Are these like-for-like changes, or changes in average rents? If people are now renting higher up the housing ladder, then obviously the average rent paid would be going up, even if the rent you had to pay for a particular house was falling.

Edited by (Blizzard)

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Their stats are +1.8% month Aug to Sep, +2.1% year on year for Sep'13. Then Sep'13+£13 on Oct'12 £744.

My conclusions are that the data probably needs to be seasonally adjusted. They may have done this and not liked the result?

Edited by Ash4781

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