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August 2016 - No sign of post-Brexit slowdown in rental market

Fast Facts

  • Average rent in England and Wales reached an all-time high of £846 in July 2016.

  • Year-on-year rent increases hit 5.2%, reversing recent trend.

  • No sign of post-Brexit slowdown in rental market.

  • South East sees rent increases of 14.9 % over the year – suggesting Londoners are moving out of the capital.

  • North East home to highest yields at 5.5%, London lowest at 3.2%.

Sentiment Snapshot

72% of landlords were either equally as likely, or more likely to add to their BTL portfolio following the vote to Brexit.*

* Research by Your Move amongst 1132 adults in August 2016.

Quick Quotes

Adrian Gill, Director of lettings agents Your Move comments:

  • "Rents increased by 5.2% in the last year, suggesting the recent slowdown in rent rises may have come to an end."

  • "The UK’s vote to leave the European Union has not caused any immediate change in the rental market, although we must wait for longer term trends to develop."

  • "For landlords, market sentiment remains positive with the vast majority still looking to add to their portfolio of properties, despite the Brexit vote."

  • "The South East was home to the biggest leap in rents, with many Londoners moving further afield in an attempt to escape high rents in the capital."

Key insights

  • The average rent in England and Wales now stands at £846 per calendar month, the highest figure ever recorded by Your Move.

  • July’s figure is 5.2% higher than last July and 4.4% up on the £810 recorded in June 2016, suggesting the UK’s decision to leave the European Union has had no negative effect on rents.

From London to Rio: Going for Gold

  • Average rents across the capital have increased by £216 per month since the London 2012 Olympics.

  • Across England and Wales, average rents have gone up by £121 per month from July 2012 – July 2016.

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