Average rents fall in October

November 20, 2015

Rents reached an all time high in September of £816 a month across England and Wales, October saw a small reduction down to £806 a month, just a dip of 1.2%, however rents are still 4.7% higher than a year ago, this is according to Your Move estate agents.

Despite the slowdown in rent rises in England and Wales in October, 4 out of 10 regions saw rents increase.

Adrian Gill, director of Your Move, reportedly said: “The very peak of the lettings season has now passed – which means better deals are possible for tenants looking to rent later in the autumn.

“However, there has been no huge change in the fundamentals pushing rents higher than in previous years. The fact remains that the private rented sector is growing rapidly, driven by demand – and new properties coming onto the rental market are letting like hot cakes.”

 

 

Allen Walkey

Highly experienced businessman with a successful career in property sales and investment both in the UK and abroad. Now a freelance writer and blogger for the property and Investment Industry, keeping readers up-to-date with changes and events in a rapidly changing world.

You May Also Enjoy

Letting Agent Talk

Preventative Measures to Reduce the Risk of Emergencies in a Rental Home

Ensuring that a rental home is safe and well-maintained is essential for both landlords and tenants. Emergencies in a rental property can lead to significant stress, financial loss, and potential damage. However, by implementing preventative measures, landlords and tenants alike can reduce the risk of emergencies and create a safer living environment. This guide provides…
Read More →
Estate Agent Talk

Understanding the Metrics Used by Estate Agents to Determine Your Home’s Worth

Determining the value of a property can sometimes feel like a complex process shrouded in mystery. However, understanding the various metrics and considerations that estate agents use to assess your home’s worth can demystify the process and empower you as a homeowner. This blog will provide a comprehensive guide to the key factors estate agents…
Read More →
Estate Agent Talk

Labour’s Vision for Homeowners and Renters: Key Changes to Expect

The UK housing market continues to be a complex and often challenging landscape for both homeowners and renters. Labour’s vision for housing reform aims to address longstanding issues in affordability, security, and sustainability, setting out a series of policy proposals that could reshape the property market. Whether you are a homeowner, a renter, or an…
Read More →
Letting Agent Talk

The pros and cons of renting to students: is it the right choice for you?

Student properties are no different in term of quality and facilities than any other type of private rental. And although landlords may have to spend a fair amount on setting up and properly maintaining student lets, they can also charge a good market rent. To help you decide whether letting to students might be worthwhile…
Read More →
Finance

Autumn Budget Misses Mark on Housing Reform: UK Rental Market Squeezed by Shortages and Rising Rents

The UK rental market faces mounting pressures, with a recent Rics survey revealing a critical shortage of properties and surging rent prices. Landlord instructions, a key indicator of properties available to rent, fell to a net balance of -29%, marking this the lowest level since 2021. Strong tenant demand is driving rents higher, with 33%…
Read More →
Estate Agent Talk

Save a house deposit faster than ever in THESE areas!

Save a house deposit faster than ever in THESE areas! Aberdeen City in Scotland is named the best place to live if you want to save for a house deposit fast, saving in as little as a year and a half Inverclyde is second, whilst Burnley is third Average salaries and house prices in each…
Read More →