Rentals still hot
THE squeeze on tenants' finances in the overheated private rental sector showed no sign of easing last month as rents reached another new high.
Typical rents increased by 3.2 per cent annually to £741 a month across England and Wales, the fastest year-on-year rise seen since February, according to research from lettings agent network LSL Property Services, which owns national chains Your Move and Reeds Rains.
Tenants' budgets worsened compared with the previous month, with 9.1 per cent of rent late or unpaid at the end of September.
LSL said that any sustained fall in rents would hinge on would-be first-time buyers being able to get access to mortgages.
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