13 Oct

Rents not impacted by Brexit

Rents not impacted by Brexit

Brexit has had little impact on UK rents, according to the latest buy-to-let index.

Figures show the vote in support of the country leaving the European Union has not caused rent rates to change significantly.

Data from Your Move showed rents did increase across the majority of the UK during August, but this was more likely linked to seasonal changes rather than Brexit.

Rents rose by 4.8 per cent month on month and are 8.7 per cent higher than in August 2015. This means the average rent is now £887 - the highest ever recorded.

Tenants in London continue to pay the most in rent, with an average monthly commitment of £1,391.

"The rental market appears to have left any uncertainty about the market behind with prices across England and Wales again reaching record highs," said Adrian Gill, director of lettings agents at Your Move.

"London continues to be home to the highest rents but other areas such as the North East and South East are witnessing even stronger levels of growth over the year, demonstrating the seasonal impact of the student market," Mr Gill explained.

"Yields have picked up following a gentle decline in recent months, something which landlords will no doubt watch with interest over the next couple of months."ADNFCR-1222-ID-801826709-ADNFCR

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