Average rents rise 2.2%

Will Leyland, 04 December 2018

Rents across England and Wales grew a healthy 2.2% in the year-to-date from October 2017, according to fresh data released in the Your Move Rental Tracker. The increase represents healthy growth across the country, although results were mixed depending on regions.

A huge seven out of 10 regions saw rents growing for the year, with the South West leading the way with 4.4% whilst Wales stayed flat. The average rent across England and Wales has now risen to £861 per month, with rents in Wales remaining at £588.

In the East of England and in London there was less positive news as rents fell by 0.4% and 0.9% respectively in those regions over the same time period. Within London rents remained the most expensive in the country at an average of £1,271.

The South East, one of the three most expensive regions in the country, was the only region of the three to post growth figures with a 0.3% yearly rise.

The North East, where rents grew by 0.8%, remains the cheapest area to rent a house with average prices sitting at £535. Month-on-month, the North East grew the quickest of any region apart from the West Midlands, with 0.4% growth between September 2018 and October 2018.

The North West, North East and Midlands are doing particularly well and are popular amongst investors right now thanks to rapidly increasing rents and house prices.

These regions are bustling and many are now looking to expand their portfolios there to benefit as much as possible from the upturn in performance, with no indication of a significant slowdown any time soon.

In terms of yields, the North of England saw much higher growth than the south, with the average yield across the north at 5% whilst the south saw yields of 3.2%. The North East enjoyed yields of 5% whilst the North West had yields of 4.8% on average.

Martyn Alderton, national lettings director at Your Move, said: ‘The focus of the rental market has now well and truly shifted away from London. Prices in other regions are growing much faster and offering higher percentage returns for landlords. All in all, there are positives across much of England and Wales, including the fact that tenant arrears are falling.’

Landlords across the UK are seeing a much more fertile environment emerge after some turbulence. Things very much appear to be settling down now with profits now growing and little or no new legislation expected to cause significant disruption.

It is expected that as we make our way into the new year that there will be an increase in activity with new landlords and investors looking to participate, and existing landlords and investors looking to capitalise by increasing their portfolio.

This is a great time to make your next investment - have a look at our available buy to let investment properties today!


Average rents rise 2.2%

Will Leyland, 04 December 2018

Rents across England and Wales grew a healthy 2.2% in the year-to-date from October 2017, according to fresh data released in the Your Move Rental Tracker. The increase represents healthy growth across the country, although results were mixed depending on regions.

A huge seven out of 10 regions saw rents growing for the year, with the South West leading the way with 4.4% whilst Wales stayed flat. The average rent across England and Wales has now risen to £861 per month, with rents in Wales remaining at £588.

In the East of England and in London there was less positive news as rents fell by 0.4% and 0.9% respectively in those regions over the same time period. Within London rents remained the most expensive in the country at an average of £1,271.

The South East, one of the three most expensive regions in the country, was the only region of the three to post growth figures with a 0.3% yearly rise.

The North East, where rents grew by 0.8%, remains the cheapest area to rent a house with average prices sitting at £535. Month-on-month, the North East grew the quickest of any region apart from the West Midlands, with 0.4% growth between September 2018 and October 2018.

The North West, North East and Midlands are doing particularly well and are popular amongst investors right now thanks to rapidly increasing rents and house prices.

These regions are bustling and many are now looking to expand their portfolios there to benefit as much as possible from the upturn in performance, with no indication of a significant slowdown any time soon.

In terms of yields, the North of England saw much higher growth than the south, with the average yield across the north at 5% whilst the south saw yields of 3.2%. The North East enjoyed yields of 5% whilst the North West had yields of 4.8% on average.

Martyn Alderton, national lettings director at Your Move, said: ‘The focus of the rental market has now well and truly shifted away from London. Prices in other regions are growing much faster and offering higher percentage returns for landlords. All in all, there are positives across much of England and Wales, including the fact that tenant arrears are falling.’

Landlords across the UK are seeing a much more fertile environment emerge after some turbulence. Things very much appear to be settling down now with profits now growing and little or no new legislation expected to cause significant disruption.

It is expected that as we make our way into the new year that there will be an increase in activity with new landlords and investors looking to participate, and existing landlords and investors looking to capitalise by increasing their portfolio.

This is a great time to make your next investment - have a look at our available buy to let investment properties today!