Existing tenants are staying longer in their rental properties, while new tenants are hunting ‘all bills included’ deals, as they face record rents and rising living costs, says Rightmove.
New rents are rising at the fastest pace ever recorded, up 11% year-on-year to a record £1,088 per calendar month outside London, according to the property website’s Quarterly Rental Tracker. In the capital rents have jumped by over 14% to £2,195 per calendar month.
The study says: “Tenants are staying longer in one rental property to avoid being faced with record rents when moving to a new place.”
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