Strongest rent growth seen outside London says Your Move
The latest Buy to Let Index March 2017 report for England and Wales from Your Move headlines ‘East and South East rents rise as demand outside London Rockets’.
The average rent in Egland and Wales for Febraury 2017 was £798.
Strong rent growth was seen outside London with Wales seeing rents rise faster than anywhere else in UK in February. London and the South West only two regions to see rents fall year-on-year.
Valerie Bannister, Lettings Director, Your Move comments: “The dramatic rent increases in London have now slowed as people look outside the capital in order to meet their housing aspirations.
“Areas in the South East and East of England have traditionally offered much better value than the capital and this has tempted many Londoners to look further afield for rental properties.
“Renters in London could be reaching the limits of affordability as prices dropped back 1% in the last year. This will be one to watch as the year progresses.
“Away from the capital, Wales saw the strongest outright performance. Rents across Wales increased by 7.7% in the last year, more than anywhere else in the UK”.
To read the latest Your Move Buy to Let Index March 2017 report in full click here.
You May Also Enjoy
House price growth remained subdued in July
Rent hikes and tighter tenant checks as landlord costs climb
North-South divide for time to move as Londoners see longest wait
Dispelling the top five biggest letting agent myths
Bank of England Holds Interest Rates at 3.75%
