Currently viewing the tag: "average PRS rents"
UK PRS Rents Rise Faster Than Tenant Income

UK PRS Rents Rise Faster Than Tenant Income

Working tenants renting property in the UK private rented sector have diminishing amounts of disposable income after new research revealed that average PRS rents rose four times faster than average UK salaries increased.

The March 2013 HomeLet Rental Index shows the average cost of renting property in the UK private rented sector increased by 3.3% during the first quarter of 2013 to average £776 (GBP) per month.

In contrast, the average amount working tenants earn in a year only increased by a minimal 0.8% over the same period to £27,300 (GBP).

Although the 3.3% rise is much higher than that of tenant income, the increase in PRS rents has apparently slowed.

Data from March’s report also shows the average cost of renting a property in the UK PRS in the first quarter of 2012 increased by 3.4% and a significant 6.9% in 2011.

Continue reading »

There Will Never Be A Better Time To Invest In Property

MyPropertyPowerTeam.co.uk helps property investors and landlords build their own property power team to enable them to profit from property - Visit our main site now!