September 23, 2013
Rents hit an 11-year high
A new report from Sequence has shown that average rents have hit an 11-year high of £779. The price rises have been exacerbated by a shortage of supply. In London the problem is even more acute with rents up nearly double the national average to £1,465, while the average length of tenancy increased from 12 to 18 months. Head of lettings Stephen Nation warned: "If supply continues to be outstripped by demand, we will see further significant rent rises."