November 2016 - Rents in England and Wales hit second highest peak ever recorded by Your Move
Rent levels dip slightly following record September.
Average England and Wales rent was £900 in October.
Wales sees biggest price rises in past 12 months.
London home to highest rents at £1,290 per calendar month.
Almost 2 in 5 landlords (37%) regard their property as their “pension pot”.
Adrian Gill, Director of lettings agents Your Move comments:
"After a turbulent year for the economy it is no surprise the rental market has paused for breath this month."
"Despite economic uncertainty and the European Union referendum result, the lettings market has powered through the year so far."
"The underlying market remains strong and we expect growth to resume in future months."
"Landlords continue to see impressive yields and the UK property market continues to be a safe and secure place to invest."
Recent rent increases in England and Wales levelled off in October, with the average property being let for £900 per calendar month. This figure was marginally down on September’s total of £907, the Your Move England & Wales Buy to Let Index found.
Despite the slight drop in rents compared to last month, this is the second highest rent ever recorded by this survey. Across England and Wales rents have grown by 12% in the year to October 2016.