First rent rise in 3 months prompts warning to landlords

Rents rose for the first time in three months in April, according to LSL Property Services – a measure the housing minister Grant Shapps has been using to demonstrate that rents in the private sector have been falling.

LSL’s buy-to-let index also showed that in April 9.9% of all rent was late or unpaid, up from 8.7% in March.

The index shows that the average rent in England and Wales rose by 0.5% to £709 per month. Despite the monthly rise, the rate of annual increase steadied with rents 2.4% higher than a year ago, compared to 2.7% in March.

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