LSL say rents have risen £1 on average since
May
The most recent buy-to-let index from LSL shows rents haven't
risen as quickly as inflation over the past year.
The company's index shows that rents last month were 1.8% higher
than in July 2012, however most recent rent rises have swiftly
declined. Since May, the average rent has risen by just £1 to
stand at £738 per month.
LSL also reports a rise in the number of new tenants.
Between June and July the number of new tenancies in England and
Wales increased by 6.6%. From a yearly perspective, there
were 12.3% more new lettings in July than in July 2012.
However, LSL also warn that demand for tenancies is shrinking
slightly due to the rise in first-time buyer numbers.
In contrast student rents have steadily
climbed
According to website Accommodation for Students the average
student rent is up 3.1% this academic year standing at just under
£80 a week.
However, the rise has mainly been led by significant increases
in the South, while rents in a number of northern cities have
plateaued or even decreased. Additionally, student rents in
the North are also more likely to include bills.
Predictably, the most expensive area is London where the average
student rent is £129 per week. In contrast the best value
locales include Walsall, Stockton and Wolverhampton with average
weekly rents of £48, £49 and £52 respectively.
Simon Thompson, director of Accommodation for Students, said:
"The student accommodation market remains robust and is still one
of the most attractive yield classes for property investment. We
are still seeing large-scale development in student accommodation
up and down the country."
