Rental property in England is expensive

The rental price of dwellings in the UK continues to grow, conquering new heights. The average rent for residential property outside of London just three months prior to February, rose by 4.8%. The rent considerably exceeds the official data on inflation in most regions of the country.

In greater London to the South East of England and Central parts of England recorded the highest rent growth during the same period , which increased by 7.7%, 6.7% and 6.5%, respectively. While in the North-East and North-West of England, rents fell by 2.6% and 3.2%.

On average, the price for one month rent for residential property in the UK, excluding London, is now £744. London – £1521. But the growth of rent rates in London have slowed down and no longer shows double values, as it was last year.

One of the reasons for the increase in rental prices of property in the UK, this growth in the number of families who have chosen to live in the private rental sector. Prices the market sale has grown so much that even fewer families can afford to buy their own homes. Data provided by the National Fund Statistics in the UK show that the number of families living in the private rental sector has increased from 30% to 37% over the past 10 years. High rental prices force people to join together to rent one apartment or home to pay less. A growing number of tenants in terms of one property. For example, two tenants in one property has increased from 2008 to the present time from 28% to 52%. All these data clearly show that young families prefer the flexibility and rent, in connection with unavailability of purchase.

® Helen Entree. G. 15.03.2016

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