June 2017 - Seven UK regions see rents rise on annual basis
Average rent across England and Wales is £814.
Calling of snap election has no noticeable effect on prices.
Yields remain stable at 4.4%.
London rents nudge upwards but are still 5% lower than in May 2016.
London boroughs which share Zone 3 and 4 see lowest rents.
Valerie Bannister, Lettings Director, Your Move, comments:
“Strong and stable was the catchphrase of the election and this was demonstrated in real terms by the rental sector.”
“The majority of England and Wales saw rents increase between Theresa May’s election announcement in April and this survey being conducted in May.”
“Even London, which had seen prices fall in recent months, has returned to growth. Prices in the capital grew on a monthly basis for the first time since November 2016.”
“While landlords have seen yields squeezed in recent times, there are signs this could be stabilising. Returns this month were 4.4%, the same as in April.”
The build up to a general election and the political uncertainty that brings have had no appreciable impact on the rental market, the Your Move England & Wales Buy to Let Index found.
Seven of the 10 regions covered by this survey saw rents rise between the election announcement in April and May. Rents in London also grew month-on month, the first time this has happened in six months.