Rents rise by just 1.4% and tenant arrears improve over the last 12 months
According to LSL’s latest Buy-to-Let Index, the average residential rent across England and Wales is now 1.4% higher than in June 2013 which is below the rate of inflation (CPI of 1.9%) for the thirteenth month in a row.
Tenants’ finances have improved on an annual basis in June. The total amount of late rent across England and Wales now stands at £266 million as of June 2014, down from £280 million in June 2013, with tenant arrears now representing just 7.8% of all rent compared to 8.3% a year ago.
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