The average monthly cost of renting a home increased by £10 during the month to £747, the figures showed, and was up by 1.4% year-on-year. This is double the 0.7% increase in earnings reported on Wednesday by the
The housing charity Shelter described the increase as "yet more devastating news" for
"We hear from renters every day who are having to cut down on their food or heating just to pay the rent, or ending up trapped in homes too small for their families."
LSL's index, which is based on analysis of around 20,000 properties and looks at the rents achieved on them, showed the biggest jump in rents over the year was in the south-east, where tenants have seen costs go up by 2.9% to an average of £762 a month.
Rising rents and property prices have helped push the annual returns made by landlords to the highest level for four years, LSL said, with the average gains from a buy-to-let property hitting £19,475 in the past 12 months. This is made up of a rental income of £8,158 and capital gain of £11,317.
LSL added that if rental property prices continue to rise at the same pace as the past three months, the average buy-to-let investor in
"Landlords have noticed these incentives [high capital gains and rental yields], and this has helped to bring a good number of new properties into the lettings market," said
Most Popular Stories
- Businesses, Investors Pressing for Green Policy
- Who's Next? More Nude Celeb Pics Hacked, Leaked
- Tips for Hiding, Securing Data on Smartphones
- Hispanic Enterprises Drive U.S. Economy
- ISIS Calls for Jihad Against 'Filthy French'
- Would You Trade Privacy for Job Security?
- Fed in No Rush to Raise Interest Rates
- Cristela Gets a Big Thumbs Up
- Lower Used-Car Prices Roil the Auto Industry
- Iran Says Syria Strikes Illegal