Guardian
•World
World
UK rents soar as high interest rates hit property market – business live

83% Informative
Average monthly rent on a newly-let home in August to 1,304 , less than a year after it hit 1,200 for the first time.
Rents have risen more in the last 12 months than they did between 2015 and 2019 .
The jump in borrowing costs has also made it harder for tenants to buy their own home instead of renting, with average fixed-rate mortgages over 6% ..
More than 36% of properties on the market have had their asking price reduced at least once, compared with the pre-pandemic average of 31.2% .
This led to average price reductions of 6.2% , which was also the highest since January 2011 .
Average rent on a newly-let property has jumped by 12% in the year to August , the fastest since 2014 .
VR Score
85
Informative language
84
Neutral language
59
Article tone
semi-formal
Language
English
Language complexity
47
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not offensive
Hate speech
not hateful
Attention-grabbing headline
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Known propaganda techniques
not detected
Time-value
short-lived
External references
4
Source diversity
3
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