New year has started in a positive fashion for the rental market in England and Wales says Your Move

February 26, 2018

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.

 

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

small house bird box
Estate Agent Talk

Families can move up the property ladder by paying 1% more in this city

Families in Suffolk can take a significant step up the property ladder with minimal financial stretch, as the team at Suffolk Pocket Door Company reveal that upgrading from a terraced house to a semi-detached home in West Suffolk costs just 1% more on average. Here Carl Benson, owner of Suffolk Pocket Door Company comments. Why…
Read More →
Breaking News

Breaking Property News 20/02/25

Daily bite-sized proptech and property news in partnership with Proptech-X. Roome celebrates four years of helping students and growing universities’ revenue James Buck, co-founder of Roome sums up the 48-month journey so far, ‘Four years ago, we launched an app Owen Redman and I wished we had at university – a tool to make shared living not…
Read More →
Overseas Property

How to Find an Experienced Wedding Photographer in Greece

Choosing the Right Photographer Your wedding day is one of the most important moments of your life, and capturing it perfectly requires an experienced photographer. Greece offers stunning locations, from whitewashed villages to breathtaking sunsets. But how do you find the right professional to document your big day? Research and Recommendations Start by researching online.…
Read More →
Breaking News

Tenants Struggle as Shortage of Rental Housing Continues

Private sector tenants are continuing to struggle as new data highlights an ongoing shortage of homes to rent. Almost eight in ten landlords (77 per cent) across England and Wales reported strong demand from prospective tenants in the final quarter of 2024 according to research from Pegasus Insights. The data, compiled for the National Residential…
Read More →
Breaking News

New Platform Will Make Tackling Criminal Landlords Easier

Private sector tenants will find it easier to hold criminal landlords to account thanks to a new online platform being launched in Parliament today. The ‘My Housing Issue’ Gateway, designed by the TDS Charitable Foundation, will ensure tenants know where to take complaints related to rented housing. Research by the Foundation has found that 50…
Read More →
Breaking News

Continued growth recorded in auctioneering sector – Propertymark Auction Barometer

53% of members said that the number of lots exceeding their reserve price increased in Q4 2024 compared to the previous quarter. Only 12% reported a decrease. The highest percentage of those surveyed (41%) said that the number of lots available (for all auction types) increased in Q4 2024 in comparison to Q3. Members reported…
Read More →