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April 2017 - March sees booming rental market in the East of England

London sees sharp fall in rents

  • The rental market in London has continued to slow down with rents falling both month-on-month and on a yearly basis, Your Move found.

  • The average rental property in the capital was let for £1,203 during March 2017. This is 6.4 % down on January’s total of £1,280 and 7.5% lower than the same point last year.

  • London was not the only region surveyed to see rents fall on both a monthly and annual basis. The South East also saw decreases, although not on the same scale.

  • The average property in the South East now costs tenants £845 per calendar month. This is 3.9% down on last month and 0.9% lower than a year ago. This change means the East of England is now the most expensive place to rent a property outside of London.

  • In the East of England the average property was let for £883 in March 2017. Prices here have increased by 1.6% in the last month and are now 7.4% higher than in March 2016.

  • The North East was the only other region which saw rents decline in both the last month and last year. Prices in this region now average £525 per month after falling 3.7% since last month and 3.1% versus March 2016. It remains the cheapest place to rent a property in this survey.

Region Yields

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