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Rent prices in Wales increase by 3.4%

Rent prices in Wales have continued to rise throughout the first half of 2016 according to the HomeLet Rental Index.

Renters in Wales are on average paying an extra £20 a month compared to 2015.

Compared to other parts of the UK, renters in Wales have seen a more modest increase. Average rent in the UK (excluding greater London) increased by £26 a month in the same period.

The June HomeLet Rental Index shows that the rental market remains resilient in the face of the various economic and political headwinds the sector has faced recently. Landlords are continuing to secure rental growth whilst there are some early signs of affordability criteria beginning to bear on the rates of rental price growth.

– Martin Totty, Barbon Insurance Group Chief Executive Officer

Llanelli and Neath named among least expensive towns in Britain

Llanelli town centre. Credit: ITV Cymru Wales

Llanelli and Neath have been named among the 10 least expensive towns in Britain based on the average property price per square metre.

Llanelli is ranked as the second least expensive place in Britain to live, with the average property price just £1,028 per square metre, and Neath follows in seventh with an average price of £1,065.

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Welsh house prices rise by 3.3%

The average increase across the UK was 3.6%

The average house price in Wales has risen by 3.3% in the last year to £177,436.

Between April and May this year the price increased by around £3,000, a jump of 1.8%.

It follows a trend of rising house prices across the UK.

Greater London saw the biggest annual increase of 16.3%. The average cost of a house there now stands at £592,763.

Meanwhile, houses in the north of the UK saw an increase of just 0.1%, increasing by around £100.

The average increase across the UK was 3.6%.

The figures are based on the latest House Price Index.

Rent costs rise to less than inflation rate

The average cost of renting a house in Wales and England is £741 a month Credit: PA

Rent rises across Wales and England have slowed to less than half the current rate of inflation, according to the latest figures.

As of April this year, the cost of renting a house was less than one per cent higher than twelve months ago - that's less than half the latest 1.6 per cent annual rate of inflation, as measured by the Consumer Prices Index (CPI).

The average rent in Wales and England has also risen by just £5 in the last twelve months.

Although rental prices are now 12.9 per cent higher than they were in January 2010, they are still less than the annual rate of inflation over the same period, which stands at 14.5 per cent.

Meanwhile on a monthly basis, Wales has seen the fastest monthly rent rise of 1.1 per cent.

The figures are based on the latest Buy-to-Let Index from LSL Property Services plc.

Call to tackle number of empty houses in Wales

Housing groups and politicians say more could be done to help reduce the number of empty homes in Wales.

The latest figures show there are at least 23,000 properties which have been empty for more than six months.

The Welsh Government says it is on track to meet a target of bringing 5,000 empty homes back into use by 2016.

Kelsey Redmore reports.

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