Big rent rises predicted for 2011

 

 

First-time buyers who can't yet afford to buy will be dealt a further blow with rent rises of as much as 8% expected, according to Savills.

The estate agent is predicting further rises of 8% across the most desirable London locations and 7% in the most sought-after central zones. These rises follow average rent rises of 11.5% across the capital last year.

Those in central London will be hit hardest, but tenants outside the capital will also see rises. Although the LSL Buy to let index shows a fall of 0.3% in January compared with December, rents are still 4% higher nationwide than a year ago, and comparison site Money.co.uk estimates that one in two tenants will be charged at least an extra 4%

 

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