May 2017 - Stable rental market, with growth moving away from the capital
Rents in London fall for fifth successive month.
Wales and the East of England show fastest growth.
Average rent across England and Wales stands at £804.
Typical yield of 4.4% in April.
Valerie Bannister, Lettings Director, Your Move, comments:
“Recent years have been characterised by rapidly rising rents in London, with the capital steaming ahead of the rest of the country. That’s no longer the case as prices in London are trending downwards while the rest of the country slowly catches up.”
“Yet falling rents in London should be seen in a wider economic context, with uncertainty caused by the snap general election and the upcoming Brexit negotiations forcing the capital’s property market to take a pause for breath.”
“The strongest performing areas are now Wales and the East of England, prices in these areas have risen faster than anywhere else in the last 12 months.”
Stability remains the watchword in the rental market as growth continued across much of the country in April 2017, the Your Move England & Wales Buy to Let Index found.
The recent gentle decline in London rents has continued, with other areas of the country – such as Wales and the East of England – now the places to find the biggest rent rises.