- Driven by student check-ins, August rents in England and Wales top previous rents with average now standing at £887
- London rents reach all-time high of £1,391
- Rents in the SE continue to rise at a faster pace than London and now stand at £975
- UK’s decision to leave the EU has minimal impact on rents
In its latest Buy to Let Index, Your Move has reported that the pre-referendum slowdown in the market has all but ended with rents in England and Wales reaching record highs. Rental properties now command an average of £887 per month, the highest figure ever recorded by Your Move. There is a certain seasonal influence underlying this growth, caused by an increase in the student sector during the summer months. This is particularly noticeable in London, the South East and the North East.
Rents in August 2016 rose by 8.7% compared to August 2015 which is in stark contrast to June, the month of the referendum, when the average rent shrank by 2.4%