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May 2015 - Buy-to-Let Index

June 22, 2015Tags: buy-to-let | Landlords | lettings

Rents driven to new all-time record by divergent south eastern regions.

  • Residential rents up 4.5% year-on-year across England and Wales, powered by three southeast regions
  • Average monthly rents hit new record at £778 – boosted by £1,207 in London and £819 in East of England
  • Steady picture for landlords, with gross rental yields of 5.1% unchanged from April 2015 and May 2014
  • Some tenants still feel financial pressure, as late rent shows a spike in May – 7.7% of all rent in arrears

Rents across England and Wales are now 4.5% higher than a year ago, as accelerating rent rises in London, the East and the South East diverge from other regions, according to the latest Buy-to-Let Index from Your Move.

As of May 2015, the average residential rent across England and Wales now stands at £778 per month.

This is 0.5% higher than the previous £774 record set in April, and 4.5% higher than the £745 seen a year before in May 2014.

Adrian Gill, director of estate agent Your Move, comments: “Rent growth has shifted up a gear in the space of just a few months. As recently as October annual rent rises were just 1.5% – so this pace of growth has tripled since then.

Read the full report here.