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Rents on the rise |
| Monday, 12th September 2005 |
Buy-to-let landlords have seen rents rise at their fastest rate for four years, according to the Royal Institution for Chartered Surveyors (RICS). |
RICS reports that the average rent in the UK was £753 per calendar month in July 2005.
Tenant demand is also rising with flats performing best as prospective first-time buyers struggle to afford their first property.
More buy-to-let investors have entered the market, with existing landlords reportedly less likely to sell when tenant leases expire.
"The return of buy-to-let investors to the market is a result of expectations that interest rates have peaked. They may also have been encouraged by the fact that the housing market, though subdued, has not collapsed, despite widespread fears it would do so," said RICS spokesperson Jeremy Leaf.
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