30 Apr

Rents on the increase

Rents on the increase

Rents increased slightly during the first three months of year - making them 3.9 per cent higher than at the same point in 2015.

Figures from Rightmove show rents across the UK, excluding London, rose by 0.8 per cent during the first quarter of 2016.

In London, rents were up by 1.3 per cent compared to the previous three months and 1.6 per cent higher than in 2015.

The rise means average rents in the Greater London region are now £2,201 per month, compared to £761 across the rest of the country.

Outside of the capital, the strongest increase in rents was in the North West with a rise of 1.1 per cent for the start of the year, but there has been a general decrease in buy-to-let activity across the UK.

“It could be that some investors are waiting until the tax changes have some time to bed in before they review their business and continue to make purchases,” explained Sam Mitchell, Rightmove’s head of lettings.

He added: “If this removes some of the competition for smaller properties then it could spell good news for many first time buyers with a deposit ready as they may find now is the ideal time to make a move.”ADNFCR-1222-ID-801817782-ADNFCR

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