By Daniel Hunter

According to data released today (Friday) by the letting agency group LSL Property Services the average level of private rents in England and Wales fell back in March.

The average rent fell by 0.3% to £705 per month, which follows on from February's drop of 0.6%.

"The rental market was still feeling the knock-on effect from the stamp duty deadline in March, with an increased number of tenants rushing to leave the sector in the first part of the year, easing tenant competition," said David Newnes of LSL.

"With the passing of the stamp duty deadline increasing the cost of moving, and banks' funding conditions likely to limit high value mortgage lending to first-time buyers, would-be buyers will be more reliant than ever on rented accommodation."

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