UK rents rise in February but fewer tenants fall behind on payments

 
Kasmira Jefford
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Greater London saw the largest increase in rent (Source: Corbis)
The number of rents in arrears decreased in February despite a hike in rents, according to new fig­ures out yesterday, in a sign that households are slightly better off.

The monthly lettings index by est­ate agents Countrywide showed that average rent in the UK for newly let properties rose by 1.7 per cent to £876pcm in the year to February, while arrears fell in all regions.

Greater London saw the largest increase in rent, up 8.4 per cent to £1,251 per month while the south east saw the greatest decrease, down 8.1 per cent. Countrywide said this was due to a fall in demand for rental properties in the region, as more tenants move out of the private rented sector and bought their own home.

Two- and three-bedroom homes recorded the largest rise in rent, increasing 4.5 per cent and three per cent respectively year-on-year.

Average UK rents, including renewed tenancies, rose 2.2 per cent year-on-year.

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