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Buy-to-let rent slowdown 'good for tenants'

16th November 2012 | back to article listings BACK    print this article PRINT

Rental costs for tenants of UK properties rose at their slowest rate since May last month, market experts have revealed.

The latest Buy-to-Let Index from LSL Property Services found that although rental inflation was slowing down, the 0.4% monthly lift in October actually doubled the rise seen in the same month in 2011.

Landlords are receiving rents up 3.4% on the same point of last year after seven consecutive months of rises. This makes the average cost for their tenants 744 a month.

Five areas of the UK, including Wales and the East Midlands, saw falls in rental costs last month, while rents in the South East (0.7%) and London (0.9%) continue to rise, but at slower rates.

The capital is where annual rental costs rose at their fastest rate, hitting the 1,100 mark for the first time, up 7% to 1,102 a month.

David Newnes, director of LSL Property Services, said the fact that the rate of increase was at its lowest in five months was good news for tenants. He said more activity from buyers and the expected seasonal slowdown had subdued the market.

Copyright Press Association 2012

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