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Credit card charges: Rental prices have increased despite recession

Many consumers across the UK may have found they ended up having to pay credit card charges because their rent went up during the recession.

Research by Endsleigh, a specialist letting agents' service provider, found that rental prices have increased steadily over the last two years despite the economic downturn.

The average cost of renting in the UK has increased by four per cent since 2009 - much higher than the rate of inflation.

Carlos Thompson, head of business development at Endsleigh, said: "The increase in cost of renting across the UK shows that despite the recession the lettings market has remained strong, which is great news for landlords and letting agents. Tenants on the other hand may be disconcerted by this news."

London was named the most expensive area in which to rent, with costs double that of the average rental price - £1,372 per month compared with £668.

The cheapest area was Scotland, where the average tenant was paying just £299 per month.

John Fieldman

Having worked in the city for 19 years, John's main focus is interest rates and corporate finance.

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