31
Oct
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.