February 2017 - Rental market has strong start to 2017
Rental market has strong start to 2017.
Average rent in England and Wales was £798 in January.
Region with fastest rising rents over the year was East of England.
London properties continue to attract highest rents.
Valerie Bannister, Lettings Director, Your Move, comments:
"The start of a new year brought renewed confidence for the rental market in England and Wales."
"Rents in nearly every region surveyed have increased compared to the same point last year."
"Yields continue to be squeezed in most areas of England and Wales, with all regions recording lower returns than at the same point a year ago."
Rents grew in all-but-one region in the year to January 2017 as landlords enjoyed a good start to the year, the Your Move England & Wales Buy to Let Index found.
Across the whole of England and Wales rents increased by 1% in the last 12 months, despite dropping back slightly between December and January. The average property let for £798 in the first month of 2017. This compares to a figure of £790 at the same point a year ago.