December 2017 - Rent growth continues across England and Wales
Average rent is 2.3% up year-on-year.
Rents continue to rise but mixed picture in some regions.
Eight of the ten regions have seen yearly price rise.
London and the North East see dip in rents over past year.
Martyn Alderton, National Lettings Director for letting agents Your Move and Reeds Rain, comments:
“Prices in most areas of England and Wales have risen in the last 12 months, which shows the rental market in both nations is still growing."
“In London, rents have been trending downwards for more than a year as demand has fallen. However, there continues to be significant variations between different parts of the capital, depending on how close to the centre of the city a property is located."
“The East of England continues to be the star performer. The average rent increased 3.8% in the last year, a stellar performance."
“The increase in popularity in the region can be attributed to the number of new jobs being created in Cambridge, as well as the popularity of commuter towns such as Luton and Southend.”
The average rent in England and Wales increased by 2.3% over the year to November, although there were significant variations between the ten regions.
The Your Move England & Wales Buy to Let Index found that prices in most areas rose, but prices in London and the North East fell.
On a non-seasonally adjusted basis, the average rent was £896 per calendar month across all of England and Wales. When looking on a seasonally adjusted basis, the average rent was £849 during November.