Buy to Let index

December 2017 - Rent growth continues across England and Wales

East of England is strongest performing region

  • Rents in the East of England rose faster than anywhere else in England and Wales in the last year, Your Move found.

  • There was 3.8% growth in prices in the year to November, stronger than any other area surveyed. The average rent now stands at £891, compared to £858 a year ago.

  • The survey also recorded strong price growth in the East Midlands, where rents rose 3.2% year-on-year to reach £651 per calendar month, and in the North West - where the average rent is now £635, 3% higher than a year ago.

  • London remains the most expensive place to rent a property, but prices are falling in the capital city. In November the average property cost £1,275 per calendar month, well ahead of the next closest region - the East of England on £891.

  • Prices in London have fallen 1.6% compared to November 2016 - one of two regions to post a year-on-year fall.

  • The other was the North East, which saw prices decrease by 1.45% to £535. This region remains the cheapest place to rent a property in England and Wales.

  • While prices in all areas of London are higher than the national average, there is major variation depending on which are of the capital properties are located. For example, the average rental property in London Travelcard Zone 2 costs £1,839 while out in Zone 5 this falls to £1,093.

  • Across all of England and Wales, the average rent now stands at £849. This is 2.3% up compared to November 2016 and 0.4% higher than last month.

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