Delays push up rent costs

FIRST-time buyers who are putting off purchasing their first home are driving up levels of rent in the Capital.

By The Newsroom

Published 2nd Feb 2011, 10:41 BST

Updated 3rd Feb 2011, 10:49 BST

New fourth-quarter figures from Citylets show the average rental price for a two-bed property stands at 704, up 5.5 per cent on 2009 levels, while the average rent for three-bed properties has risen by 9.8 per cent to 1054.

Dan Cookson, senior analyst at Citylets, said: "Tenants are now in greater competition for rented accommodation, which has driven up rents."