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Private rental tenants paid 3% more rent on average during 2014 (19 January 2015)

Date: 19/01/2015
Duncan Lewis, Legal News Solicitors, Private rental tenants paid 3% more rent on average during 2014

Private sector rents rose by 3% in 2014, according to estate agents Your Move and Reeds Rains.

Private sector tenants across England and Wales now pay an average monthly rent of £767, online housing publisher 24Dash.com reports.

Renters in private sector properties now pay on average £22 more per month compared with figures for November/December 2013.

Private sector rents fell marginally by 0.1% in November/December 2014, however.

Over the last year, the east of England has experienced the biggest rise in private sector rents, with average monthly rents escalating by 7.6% in one year.

London rents in the private sector have risen by 4.1% in the last year, the figures show – while private sector rents in the East Midlands have risen by 6.2%.

In Yorkshire and the Humber, a rise of 3.4% in private sector rents was seen during 2014.

In some areas of England and Wales, private sector rents actually fell, however – in the northeast of England average rents dropped by 2.1% last year and in the southwest rents fell by 1%.

The number of rent arrears escalated during the Christmas and New Year period, the figures show – with December levels of rent arrears in the private sector recorded at 8.9%, representing an increase form 7.5% in November.

During 2014, however, rent arrears fell, with the average estimated at 7.5% of all rent – a fall in the 2013 figure of 8.1%.

Alex Hilton from tenants’ campaign group Generation Rent said:

“Tenants tend to pay their rents from their wages, so if rents are rising twice as fast as wages, that's an indication of a tightening thumbscrew for renters.

“As the election approaches, politicians have to decide whether they are going to help tenants or ignore them.”

Director of Reeds Rains and Your Move, Adrian Gill, said:

“There appears to be a new fire in the rental market as we enter 2015. Demand for homes to let is hotter than we would normally expect at this time of year.

“Recent months have shown a divergence from usual seasonal norms. Historically, there is a tendency for rents to ease in the winter, particularly December.

“With fewer tenants willing to relocate in the festive period, landlords usually compete to fill empty properties and agreed rents tend to dip as a result. Last month that happened – and rents fell compared to November – but by much less than the usual extent.

“In particular, a jobs boom across the eastern regions of England has seen a larger than usual number of people relocating in the winter months. This has pushed up rental prices in these regions even further.”

Duncan Lewis Housing Solicitors

Duncan Lewis housing solicitors can advise private sector housing tenants on a wide range of housing matters, including:

• Disrepair of rented property
• Housing benefit
• Housing possession
• Landlord & Tenant disputes
• Local Authority housing
• Nuisance neighbours
• Unlawful or malicious eviction.

Duncan Lewis is also a leading firm of Legal Aid solicitors.

For expert legal advice on housing law, call Duncan Lewis housing solicitors on 020 7923 4020.

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