Rents remain stable

Typical rents in the UK remained unchanged in May, after nine consecutive months of falls, findaproperty.com has found, as the average rent remained at £819 a month. This was 5.5 per cent lower than the same month a year ago. Rents had been falling as the supply of rentals increased, reflecting the rise in the number of ‘accidental landlords’ because of the housing slump. But the survey reported the rate at which properties had come on the rental market in May had slowed compared to a year earlier.