Buy to Let index

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

South East leads the way

  • The South East of England saw rents rise faster than anywhere else in the last 12 months. Landlords in this region saw prices grow 13.6% in the last year to reach £875 per month.

  • The rental market in Wales continues to go from strength to strength as prices in the nation have grown 6.2% in the last year. Properties in Wales now attract £584 per calendar month, slightly down on the £591 recorded in October.

  • The North East has also seen rents rise faster than the national average increasing by 4.2% year-on-year to reach £542 although this still remains the cheapest place to rent a property in the country, slightly cheaper than Yorkshire and the Humber where rents average £564.

  • Just one region saw rents decrease on a yearly basis – the South West. Properties here attracted an average of £663 a year ago and this has fallen to £656 in this survey.

  • In absolute terms, London remains the area with the highest rents. The typical rent in the capital city was £1,295 in November, up 1.9% compared to the same point in 2015 but virtually flat month-on-month.

  • Across the whole of England and Wales the average rent stood at £830 in November 2016. At the same point in 2015 this figure stood at £799.

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