Rent rises to cause money worries?

People could be left in financial difficulty as it has been revealed that rent prices are on the increase.

The latest Royal Institute of Chartered …

People could be left in financial difficulty as it has been revealed that rent prices are on the increase.

The latest Royal Institute of Chartered Surveyors (Rics) Lettings Survey revealed the costs are being pushed higher as demand is outstripping supply.

The number of chartered surveyors that reported rising rather than falling rents this year rose from zero to 30 per cent.

It appears prices will continue to swell with the rental expectations net balance climbing to 36 per cent, which is the highest figure recorded in the history of the report.

Although the hikes could hit consumers in the pocket, others believe the lifts could signal a rejuvenation of the market.

Rics spokesman Jeremy Leaf commented: “This is good news for landlords as rents are set to move higher in the coming months and yield returns are likely to improve.”

Earlier in the week, figures released by Clydesdale and Yorkshire Banks showed burglary is costing uninsured British homeowners around £200 million a year.

By Joe Shervin

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