31 Oct

Rents on the rise across England and Wales

Rents on the rise across England and Wales

 

Rents have increased in England and Wales over the past year, according to the latest index report.

The buy-to-let index from Your Move revealed the average rent now stands £938 - 3.2 per cent higher than September 2016.

Properties in the North West saw the largest increase in rents, with a 3.6 per cent rise, followed by a 3.4 per cent growth in the East Midlands.

Rents in London and the South East continued to have the slowest rate of growth. The average rent in the capital is now £1,280, with a monthly price fall of 0.1 per cent.

Landlords have also reported a stable month of rental yields, with only the South East seeing a fall in returns.

“Once again the strongest rent growth was found in the areas away from London and the South East. As activity in the capital slows, prices and activity have risen in the North,” said Martyn Alderton, national lettings director for letting agents Your Move and Reeds Rain.

“Yield levels have started to stabilise across surveyed areas after being squeezed at the start of the year. This is good news for landlords and demonstrates the resilience of the sector,” he added.ADNFCR-1222-ID-801841534-ADNFCR

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