'Gazumping' pushing up the cost of renting

[Banjo]

A recent LSL Property Services survey says 'gazumping' is pushing up rents in England and Wales as the average cost of renting hit £696 a month in May - £4 higher than the previous month.
Rising demand from tenants has led to some offering above the asking price to rent a home.

The average cost of renting a home has now risen 4 months in a row.
However, more than one in ten tenants in the UK missed or were late paying their rent in May, the survey found.

The survey said that typical rent was 4.4% higher than a year earlier, but there were significant regional variations.
In London, annual rental costs have risen by 7.8% in the last year.  In the North East rents are up 6.4% and the East Midlands saw a 6.2% rise.

[BobTB]

Who would have thought people would end up bidding against each other to rent a home.
The world has gone mad!

[Philofacts]

They must be really great homes if that is the case.

[The Brickkicker]

In my opinion rents will continue to rise in the coming years ....DEMAND LED

only when finance becomes freely available TO HOME BUYERS will this change

and with the way things are looking in Europe .....British banks are set to take another hammering on foreign debt this time

FACTOR IN THE COST OF A UNIVERSITY EDUCATION ...and young people ....will be middle aged people  before being able to get on the ladder

[Philofacts]

The National Housing Federation say the average age of first-time buyers who are not financially assisted (by parents or via an inheritance) is currently 37 and will rise to 43.