Rent rises far outstrip income increases
New figures release from the May 2014 HomeLet Rental Index show that average UK private home rents have increased 7.5% in the last 12 months, whereas national average earnings are rising at 1.7%. The data suggests that new, more affluent tenants are entering the rental sector. This may be due to uncertainty in the mortgage market or as a result of the sharp increase in house prices.
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