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England & Wales Buy to Let Index - November 2015

December 18, 2015Tags: buy-to-let | Landlords | letting | lettings

Rents dip below £800 in time for Christmas

  • November rents drop 0.9% on a monthly basis, to average £799 per month across England & Wales
  • Despite festive dip, annual pace of rent rises stands at 4.0% over the course of last twelve months
  • London rents stand 8.9% higher on an annual basis – even as southern regions lead monthly falls
  • Tenant finances worsening, with the proportion of all rent payable in arrears rising to 8.2%
  • Rising property prices suppress rental yields to 5.0% – but capital gains push total returns to 10.9%

Rents across England and Wales have fallen below the psychologically important £800 mark, according to the latest Buy-to-Let Index from Your Move.

Average rents now stand at £799 per month. This follows a month-on-month fall of 1.2% – down from September’s all-time record high of £816.

Despite month-on-month falls, rents have risen considerablyover the course of the last twelve months. Across England & Wales annual rent rises stand at 4.0%, comparing November 2015 with November 2014. Taking into account CPI inflation of 0.1%, this leaves real-terms annual rent rises of 3.9%.

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