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| Version 0 | Version 1 |
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| Home rental costs 'continue to rise' | Home rental costs 'continue to rise' |
| (about 14 hours later) | |
| Frustrated buyers are continuing to push up the price of renting a property in the UK, according to a survey. | Frustrated buyers are continuing to push up the price of renting a property in the UK, according to a survey. |
| The average cost rose for the ninth consecutive month to £691 a month in October, according to LSL Property Services. | The average cost rose for the ninth consecutive month to £691 a month in October, according to LSL Property Services. |
| The price is rising as potential first-time buyers struggle to get a mortgage and so continue to rent. | The price is rising as potential first-time buyers struggle to get a mortgage and so continue to rent. |
| A separate survey from Spareroom.co.uk suggested that seven people were chasing every room for rent. | A separate survey from Spareroom.co.uk suggested that seven people were chasing every room for rent. |
| The house sharing website said this was the highest level of demand since it launched six years ago. | The house sharing website said this was the highest level of demand since it launched six years ago. |
| Lettings | Lettings |
| The survey by LSL found that the average rent was 0.4% higher in October than the previous month, and 4.5% higher than in October last year. | The survey by LSL found that the average rent was 0.4% higher in October than the previous month, and 4.5% higher than in October last year. |
| High demand was also being driven by potential buyers waiting as they expected house prices to continue to fall. | High demand was also being driven by potential buyers waiting as they expected house prices to continue to fall. |
| Landlords were also unable to extend the supply of rental properties because the mortgage drought was making it difficult for them to extend their property portfolios. | Landlords were also unable to extend the supply of rental properties because the mortgage drought was making it difficult for them to extend their property portfolios. |
| "Rents have been creeping upwards, month in, month out for the last year, and now stand just a few pounds shy of £700 per month," said LSL's estate agency managing director David Newnes. | "Rents have been creeping upwards, month in, month out for the last year, and now stand just a few pounds shy of £700 per month," said LSL's estate agency managing director David Newnes. |
| "The recent increases are likely to steady slightly in run up to Christmas - traditionally a slower time for the market. But a strong underlying growth will remain, as the key market dynamics are geared towards further rises." | "The recent increases are likely to steady slightly in run up to Christmas - traditionally a slower time for the market. But a strong underlying growth will remain, as the key market dynamics are geared towards further rises." |
| Rent rises were strongest in the South East of England, but the average rent fell slightly in Yorkshire and the Humber in October. | Rent rises were strongest in the South East of England, but the average rent fell slightly in Yorkshire and the Humber in October. |
| What do you think of the findings of these surveys? Are you a landlord or tenant? Do you run a lettings agency? Send us your comments and experiences using the form below. |