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New tenancy rents are up 3.1% in 2014Rents on newly-tenanted properties have risen 3.1 per cent in the past year according to an analysis by Countrywide, the UK's largest lettings agent.

There was what the agency describes as a seasonal month-on-month reduction in the average price of a new let from £916 per month in September to £889 in November, because of fewer tenants looking to move in the run up to Christmas and the subsequent scope for negotiation between landlords and would-be tenants.

But Countrywide says the annual rise demonstrates continued demand for rental property over the longer term.

There is broadly a six-month lag between the uplift in agreed rents for new tenants. Some of this uplift is reflected in the rents of the entire tenant population. UK tenants as a whole, which includes both sitting and new tenants, have seen the rent they pay increase 1.7 per cent over the last 12 months says a Countrywide spokesman.


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