East of England rental costs are now rising faster than London’s
PUBLISHED: 10:40 24 August 2016 | UPDATED: 10:40 24 August 2016
The increase in rent prices in the East overtook the capital this summer.
Although Londoners are still paying more, the increase in private rental costs is now happening faster in the East of England, and even faster in the South East.
The figures came to light in the government’s latest Index of private housing rental prices.
Under the current government landlords have the right to increase rental costs every six months.
The change occurred in June, when the cost to renters in the East jumped to a 3.1 per cent increase rate, as the London rate fell from 3.3 to 3.0 per cent.
The rental price increase for tenants in the South East overtook that of Londoners in May, and is now increasing at 3.5 per cent.