London

LSL Scaremongering again

RLA
Written by RLA

The RLA is disputing figures published on rent levels in the private rented sector by property services company, LSL…

The RLA is disputing figures published on rent levels in the private rented sector by property services company, LSL.        

According to LSL, rents will hit an average of £800 a month by mid-2015. The RLA says that this is an exaggeration given recent trends in rent levels. Figures published by the Valuation Office Agency (VOA) show that in the year to March 2013, nationally, average rents increased by 2.7 per cent to £724. Inflation, as measured by the Consumer Prices Index, stood at 2.8 per cent during the same period.

Indeed, according to figures in the English Housing Survey for 2011-12, between 2008/2009 and 2011/12, average rents in the private rented sector increased by 7.18 per cent compared an inflation rise of 12.5 per cent and a 16.9 per cent increase in social sector rents over the same period.

In a survey, members of the Residential Landlords Association were asked if they would be increasing their rents in 2013 and 56 per cent said no with 31 per cent saying yes.

Alan Ward, Chairman of the Residential Landlords Association said:

“LSL has a commercial interest in suggesting that they can secure higher rents for landlords but their predictions do not match those from official data and should be treated with caution. You have to look at things differently in London compared to elsewhere.”

Ward continued:

“Policy makers in Westminster often find themselves quoting data from commercial organisations to back whatever argument they might be making. When making policy it is vital that Ministers have clear and authoritative data from which to make their decisions.

“In the interests of good policy and to ensure public confidence in data on private rents, there needs to be one rental level index in which all parties can have complete confidence and which no longer gets driven by the commercial interests of lettings agents. The RLA is confident this would mirror the data from the English Housing Survey”

Further Information

To view the VOA most recent statistics, updated from previous measures on in February 2013, on the matter please visit this page

To view annual analysis on the private rented market, please visit this page. This item being of particular importance as it provides a basis for the 2.7 per cent rise in rents over the past 12 months.

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About the author

RLA

RLA

The Residential Landlords Association (RLA) represents the interests of landlords in the private rented sector (PRS) across England and Wales. With over 23,000 subscribing members, and an additional 16,000 registered guests who engage regularly with the association, we are the leading voice of private landlords. Combined, they manage almost half a million properties.

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