Tenants' finances are becoming healthier despite the cost
of renting lifting to another record high in October. Average private-sector
rents across England and Wales increased to £770 last month, edging up on a
previous all-time peak of £768 recorded in September, according to LSL Property
Services. But LSL said that tenants'
finances are close to the best level it has ever seen and could be set to
improve further in the coming months. Some 6.9% of all rent was in arrears last
month, which is the second smallest percentage recorded by LSL. A record low of
6.6% of rents being late or unpaid was recorded in November last year and rent
arrears have been as high as 14.6% in February 2010. Read more on the Daily
Mail website.
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