Rents rise to record high in '08

Research by Paragon found landlords are seeing rapid expansion in tenant demand and the credit crunch is set to make rents climb even higher. Over the first quarter of 2008, rents rose by an average of 4%, while they are now 12% higher than at the end of last year, reaching a record level of over £1,000 per month. Yields remained stable in March at 6.3% for the third consecutive month and have increased by 0.2% over the past year. The South West has seen the biggest rise in rental income, with the average landlord making around £17,089 annually, up by 42.2% in the past year. However...