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Posted by Let Alliance on June 1, 2012
Source: Mortgage Solutions
The average rent in the UK remains around £750 a month with two-thirds of tenants reporting no rental price increases on their property over the past year.
A report by the National Landlord Association (NLA) said the average UK rent was £745.97 per month, with 46% of tenants having occupied their present property for at least four years and a further 24% having lived in their rental home between two and four years.
The research said that 71% of tenants rent because they are unable to afford a house purchase, though 9% said that they rent properties because it offers greater flexibility. 63% of tenants reported that their rent had remained the same as this time last year.
Thirty-six per cent were found to be living in their first rental property, with those who have moved in the last year largely doing so due to changes in property size required or needing to relocate.
David Salusbury, chairman at the NLA, said: “The research shows that most (63%) landlords have not increased their rents in the last 12 months.
“With the cost of living increasing for everyone in the UK, it’s encouraging that many landlords are not seeking to impose an additional financial burden onto their tenants.”