Rent costs rose in January, says LSL

Lettings boards The cost of renting has risen in the past year, according to LSL

The cost of renting a home in England and Wales increased in January, a survey has suggested.

The average rent rose by 0.1% last month from December, to £712 a month, according to LSL Property Services, which owns Your Move and Reeds Rains.

It is the first increase in January that the firm has ever seen.

Rents rose fastest in the West Midlands and South West, with the biggest declines being seen in Wales and the South East.

Rents increased 0.8% in London, with the average monthly rent in the capital now £1,032.

The cheapest average monthly rent was in the North East, at £512.

"The rental market burst back into life unseasonably early in January, with tenants on the move trying to take advantage of what is usually a quieter period for the rental market," said David Newnes, director of LSL Property Services.

"The depth of the underlying demand sustained a higher level of competition for rental property during the Christmas period, preventing more severe falls in rents than we'd normally see during the period."

Change in cost of renting

Region Monthly change Annual change

Source: LSL Property Services; Jan 2012

London

0.8%

6.3%

East

-1.7%

5.9%

South West

1.5%

0.7%

Yorkshire and the Humber

0.1%

3.1%

North West

-1.3%

3.5%

Wales

-1.5%

4.9%

South East

-1.1%

4.2%

North East

1.1%

-0.7%

West Midlands

1.8%

3.5%

East Midlands

0.1%

3%

More on This Story

From other news sites

* May require registration or subscription

The BBC is not responsible for the content of external Internet sites

More Business stories

RSS

Features

  • chocolate cake and strawberriesTrick your tongue

    Would this dessert taste different on a black plate?


  • Duke and Duchess of Cambridge and Prince George leaving New Zealand'Great ambassadors'

    How New Zealand reacted to William, Kate - and George


  • Major Power Failure ident on BBC2Going live

    Why BBC Two's launch was not all right on the night


  • Front display of radio Strange echoes

    The mysterious 'numbers stations' left over from the Cold War era


  • A letter from a Somali refugee to a Syrian child'Be a star'

    Children's uplifting letters of hope to homeless Syrians


BBC © 2014 The BBC is not responsible for the content of external sites. Read more.

This page is best viewed in an up-to-date web browser with style sheets (CSS) enabled. While you will be able to view the content of this page in your current browser, you will not be able to get the full visual experience. Please consider upgrading your browser software or enabling style sheets (CSS) if you are able to do so.