New year has started in a positive fashion for the rental market in England and Wales says Your Move
The latest Your Move England and Wales Rental Tracker – January 2018 data released February 2018 headlined ‘Strong start to the year for the Engalnd and Wales rental market’
The latest Rental Tracker reveals that average rents have increased by 2.5% in the last year, average rent now stands at £829 per calendar month.
In the year to the end of January 2018, 8 out of 10 regions recorded rent increases, however London and the North East saw rents fall according to latest Your Move Rental Tracker.
Martyn Alderton, National Lettings Director for letting agents Your Move and Reeds Rain, comments:
“The new year has started in a positive fashion for the rental market in England and Wales, with prices rising on average by 2.5% to £829.
“Only London and the North East saw prices fall, with every other area seeing rises year on-year.
“While 2017 saw the yields achieved by landlords continue to be squeezed, landlords can begin to feel confident in the market as yield levels have stabilised in all areas.
“With more tenants seeing renting as a long term option, landlords, with their letting agent’s support, should identify features to encourage longer tenancies. For example, our recent tenant survey has found that more than a quarter of tenants would pay on average £24 more a month to live with their pets. Tenants are also prepared to pay more for communal living extras, such as a shared garden, childcare facilities or a gym.
Read the latest Your Move England and Wales Rental Tracker – January 2018 data in full click here.
You May Also Enjoy
Section 21 reform divides landlords and tenants
70% of landlords anticipate rent rise due to Autumn Budget
Estate agent earnings fails to keep pace with inflation
Southern landlords face up to £22,000 tax hit
Corporate landlords cautiously optimistic after first six months of RRA
