Private sector rents 'rise by 1.6%'

%VIRTUAL-SkimlinksPromo%The pace of private sector rent rises picked up in February amid continued strong demand in the sector from tenants, a major lettings network has reported.

Rents rose by 1.6% year-on-year across England and Wales to reach £743 a month on average, following a 1.4% annual increase in January, according to LSL Property Services, which owns national chains Your Move and Reeds Rains.