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.