14 Feb

Rents on the rise outside of London

Rents on the rise outside of London

Rents across the UK increased by 2.6 per cent during the first month of the year, but were less positive in London.

Figures from Countrywide showed 36 per cent of landlords increasing the rent when signing new tenants, compared to 27 per cent at the same point in 2016.

Rents in Wales were up by 8.8 per cent, by 8.2 per cent in the South East and 7.8 per cent in the East of England.

The rises mean the average rent per month is £929 across the UK, although this rises to £2,298 in central London and £1,260 in Greater London.

It was also revealed that many landlords have opted to increase their portfolios - often by using cash to fund their purchases.

Johnny Morris, research director at Countrywide, explained: "With the forthcoming tapering of tax relief on mortgage interest payment, landlords have less of an incentive to borrow, suggesting more cash activity in 2017."ADNFCR-1222-ID-801832356-ADNFCR

Cookies We use cookies to ensure that we give you the best experience on our website. To find out more about our cookies policy, see our cookies policy here or in the footer.