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PRIVATE tenants are facing the steepest increases in rents in more than a year and a half, according to Office for National Statistics (ONS) figures issued yesterday.
Across Britain, private rents went up by 2.1 per cent in the 12 months to March, the ONS said, the fastest annual rate of increase since August 2013.
The latest annual rate of change recorded means, for example, that someone renting a property for £500 a month in March 2014 would have seen the rent they pay increase to £510.50 a month by March of this year.
Private rental prices have grown year on year by 2.1 per cent in England and Scotland and by 0.8 per cent in Wales.
In England the sharpest annual rate of price growth was in London, where it went up by 3.2 per cent.
A recent report from housing charity Shelter found that 49 per cent of parents whose children have not bought a home think their offsprings’ only hope of getting on the property ladder is to wait for an inheritance from them.
