Increased rent across most of UK

UK-House-rentRents in the UK private rental sectors increased by 2.4% in the 12 months to June 2016, down from 2.5% month on month. According to Office of National Statistics, rents increased by 2.5% in England but fell by 0.1% in Wales. Rental prices increased in England over the year to June 2016, the index report reveals that since January 2011 England rental prices have increased more than those of Wales and Scotland.

The report suggests that inflation in the rental market is likely to have been caused by demand in the market outpacing supply. On the demand side, the RICS reported an increase in demand in June in their residential market survey. On the supply side, RICS reported that new landlord instructions fell slightly in June. The report also suggests that with the UK economy continuing to grow and affordability being strong in recent months, confidence is likely to remain high.

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