UK property rents on the rise
A new report from the Royal Institute of chartered Surveyors spells bad news for renters in the UK property arena.
Landlords are cashing in on the never ending queue of people that are locked out of the home mortgage market and are looking for rented accommodation, according to research UK property rents have increased by an average 40 per cent across the country and monthly rent charges will continue to increase due to the lack of accommodation throughout the rental sector.
Some of the larger rent increases have affected both the London property market and areas of the South East of England. The report also highlighted the problems of the ‘wrong’ type of property on the market there seems to be large amounts of one and two bedroom apartments on offer but larger family sized accommodation tends to be massively oversubscribed.