Rents rise for third month in a row

Rents in England and Wales have risen for the third consecutive month as mortgage lenders tighten their borrowing criteria and people struggle to get on the property ladder, a study has shown.

The average rent increased by 0.9% month-on-month in June to reach £718 a month, just shy of a record £720 seen in October 2011, according to lettings agent network LSL Property Services, which owns chains Your Move and Reeds Rains.