Recovery in rent levels

Average UK rents rose for a second consecutive month in June according to Your Move.

Following a dramatic 11.3% fall between August 2008 and April 2009, in which average rents declined from £717 to £636 per month, rent levels are now recovering. In June 2009, rents rose 0.3% to a UK average of £641 per month – having grown 0.5% in May

Rapidly rising demand from tenants in recent months has helped stabilise rents. Overall, the number of new tenants registering to rent has risen 18% in the past year

David Newnes, managing director of Your Move, said: “Since last summer rents have been forced down by a huge increase in the supply of stock on the lettings market. This was largely a consequence of a surge in the number of accidental landlords unable to sell and making their homes available to rent. However