Rents have risen more slowly than inflation over the last 12 months, according to the latest buy-to-let index from LSL, which includes national chains Your Move and Reeds Rains.
It says that rents last month were 1.8% higher than in July 2012, but that recent rent rises have been very small. Since May, the average rent has risen by just £1 to stand at £738 per month.
LSL also reports a rise in the number of new tenants. Between June and July the number of new tenancies increased by 6.6% across England and Wales. On an annual basis, there were 12.3% more new lettings in July than in July 2012.
However, LSL also warns that tenancy demand is softening slightly because of the improvement in first-time buyer numbers.
LSL puts gross average yields at 5.3% and estimates that tenant arrears fell back in July to equate to around 8.1% of all rent unpaid.
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