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Rents climb again in April
LONDON’S rental prices outstripped the UK average again in April, industry data showed yesterday, while arrears also increased last month.
Rents rose 0.5 per cent in the month to an average of £709 in England and Wales, LSL property services reported, taking the annual rise to 2.4 per cent.
However London’s rents rose 0.7 per cent in the month and 4.5 per cent in the year to an average of £1,032 per month.
Arrears also rose in the month with 9.9 per cent of rent late or unpaid, totalling £300m.
“After absorbing the impact of the stamp-duty deadline on tenant demand, the rental market began to heat up ,” said LSL’s David Newnes.