London rents end the year on all time high, says Your Move
Average rents increased by 3.9 percent in 12 months across England and Wales and the average rental property was let for £830 a month in November according to the Your Move-Buy to Let Index.
On a regional basis, rents increased in nine of the ten regions surveyed during the past 12 months with only the South West seeing a small decline in rents.London remains by far the most expensive place to rent a property in England and Wales.London rents reach new high of £1,295.
Adrian Gill, Director of lettings agents Your Move comments:
“The rental market is still holding strong, despite ongoing pressures elsewhere in the British economy.”
“Landlords are continuing to see strong yield levels and rents are increasing, even if growth is slower than it was previously.”
“Tenants are now in a much better financial position than earlier in the year. Fewer are struggling with rent payments and this is great news for tenants and landlords alike.”
“There is now a great deal of stability in the rental market and this means there is a solid platform for growth in future months.”