LETTINGS NEWS:- South west rents still on the rise – but not by very much
Rents are still rising in the south west and across the rest of the UK, but the increases are subdued and mostly below the inflation level. Data produced by the Office for National Statistics and mortgage group IMLA shows:
- average rents in the south west up 1.3% in the year to March;
- rents across Britain as a whole up even less, at 1.1%;
- no part of Britain has seen rent rises greater than 2.
An IMLA spokeswoman says there remains concern that there are too few homes available to let when compared with growing demand – suggesting that rent rises may increase in the near future.