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December 2016 - London rents end the year on all time high

Fast Facts

  • Average England and Wales rent was £830 in November.

  • London rents reach new high of £1,295.

  • South East sees greatest rent increases in last year.

  • Across England and Wales rents up 3.9% in 12 months.

Quick Quotes

Adrian Gill, Director of lettings agents Your Move comments:

  • "The rental market is still holding strong, despite ongoing pressures elsewhere in the British economy."

  • "Landlords are continuing to see strong yield levels and rents are increasing, even if growth is slower than it was previously."

  • "Tenants are now in a much better financial position than earlier in the year. Fewer are struggling with rent payments and this is great news for tenants and landlords alike."

  • "There is now a great deal of stability in the rental market and this means there is a solid platform for growth in future months."

Key insights

  • The average rental property was let for £830 a month in November, the Your Move England & Wales Buy to Let Index found. This figure is 3.9% higher than a year ago, when an average property cost £799 per calendar month.

  • On a regional basis, rents increased in nine of the ten regions surveyed during the past 12 months with only the South West seeing a small decline in rents. London remains by far the most expensive place to rent a property in England and Wales.

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