Your Move: Rent increases in England and Wales levelled off in October
Recent rent increases in England and Wales levelled off in October, with the average property being let for £900 per calendar month. This figure was marginally down on September’s total of £907, according to the Your Move England & Wales Buyto Let Index.
Despite the slight drop in rents compared to last month, this is the second highest rent ever recorded by this survey. Across England and Wales rents have grown by 12% in the year to October 2016.
Adrian Gill, Director of lettings agents Your Move comments:
“After a turbulent year for the economy it is no surprise the rental market has paused for breath this month.Despite economic uncertainty and the European Union referendum result, the lettings market has powered through the year so far.The underlying market remains strong and we expect growth to resume in future months.Landlords continue to see impressive yields and the UK property market continues to be a safe and secure place to invest.”
Source: Your Move