Cardiff Letting AgentLandlordTenant FindersProperty Letting ManagementUK Property BlogFind a Property to Rent Contact Us
Cardiff Letting Agent
Find Your Next Tenant for £120
Landlord
Mortgage
Deposit
Tenant
HMO
Viewings
Rent Guarantee Scheme
Legal
Free Tenant Finder
House Prices
Student Accommodation
Health & Safety
Tenant of the Week
Rent Prices
Agent Fees
Market Research, Polls & Surveys
Tenant Referencing
Canton
Random
Google Referencing
#propertyscandal
October, 2011
November, 2011
December, 2011
Tenant

Rents saw their largest monthly increase in a year in August, rising by 1.2% to an average of £713 per month, according to the latest buy-to-let index from LSL Property Services.

The average rent in England and Wales in August surpassed the previous record high of £705 in July.

 Arrears also increased, for the first time since April, with 10.7% of all rent unpaid or late by the end of August, up from 9% in July.
 
Unpaid rent totalled £300m in August, up 19.5% from £251m in July, but LSL says an August rise in arrears is a seasonal phenomenon.
 
On a monthly basis, rents increased fastest in Wales and the South-East, where they rose by 2.1%.
 
The next biggest increases were in London and the South-West, where they rose by 1.5% and 1.3% respectively, putting average rents in London at a new high of £1,025 per month.
 
Rents only declined in the Midlands compared to July, falling by 0.4% in both the West Midlands and the East Midlands.
 
The average yield across England and Wales was 5.2% in August, while the average total return was 2.6%.
 
David Brown, commercial director at LSL, says: “We are in the thick of the busiest time of year for the rental market, and red-hot demand for properties is driving rents up at their fastest monthly pace in the last 12 months.
 
“Recent graduates moving for their first jobs have further exaggerated the long-term and growing demand from frustrated buyers.
 
“With significant improvement in the number of buyers able to secure a mortgage unlikely in the foreseeable future, competition for rental accommodation will not drop and further rent rises remain on the cards.”
 
 
Brown says that new property investors are being drawn to the market by rental income and yields rather than thoughts of immediate capital gains.
 
He adds that while summer holiday spending can be used to account for the rise in arrears in August, rising rents and inflation are taking their toll on tenants.
 
 
Brown says: “While we expect arrears to fall back into line in the short term, the growth is indicative of the mounting pressure facing tenants. With rents rising so quickly, soaring inflation and an uncertain economic outlook, over the long term we anticipate that rental arrears will become a growing financial problem for landlord.”
 
WebLetz a Cardiff Letting Agents provides a host of letting agent solutions for landlord in Cardiff and across South Wales including:
·         £120 tenant finders service
·         5% property letting management fee
·         Rent Guarantee and Rental Income Insurance
·          HMO tenant finders and property management services
 
Webletz a Cardiff Letting Agent can be contacted via email info@webletz.co.uk or by telephone 0845 496 0000.
Why not visit Cardiff Letting Agent to register for our FREE guides:
·         Find the  Perfect Tenant for free
·         Reduce Void Periods and Receive Rent on Time
 
 
We have tenants available and looking for properties across Cardiff including Adamsdow, Splott, Tremorfa, Roath, Llanedeyrn, Cyncoed, Penylan, Rumney, Llanrumney, Trowbridge, St Mellons, Plasnewydd, Pentwyn, Pontprennau, Llanishen, Lisvane, Rhiwbina, Pantmawr, Coryton, Tongwynlais, Morganstown, Radyr, Radyr Court, Fairwater, St Fagans, Llandaff, Ely, Caerau, Culverhouse Cross, Canton, Leckwith, Grangetown, Cogan, Llandough, Barry, Penarth, Dina Powys, Cardiff Bay, Butetown, Gabalfa, Llandaff North, Thornhill, Heath, Maindy and Cathays
<< Back Add New Comment
0 items total
Add New Comment
Name*
Subject*
Comment*
Please type the confirmation code you see on the image*
Reload image


Cardiff Letting Agent|Landlord|Tenant Finders|Property Letting Management|UK Property Blog|Find a Property to Rent| Contact Us