November 2017 - East of England home to rental resurgence
East of England has fastest rising rents than any other region.
London market continues to battle difficult conditions.
Yield levels across England and Wales have stabilised.
Average rent is up 2.4% year-on-year.
Martyn Alderton, National Lettings Director for letting agents Your Move and Reeds Rain, comments:
“As we approach winter, the heat has been taken out of the rental market and price growth has slowed.”
“While prices in most areas have continued to rise, it has been at a slower pace than we had been used to in recent years.”
“Across England and Wales, rents have grown by 2.4% in the last year although some areas, such as the East of England, have performed above that level.”
Rental prices in the East of England rose faster than anywhere else in the year to October, the Your Move England & Wales Buy to Let Index found.
Prices in most areas of England and Wales grew in the last 12 months, although it was the East that saw the biggest increases.
On a non-seasonally adjusted basis, the average rent was £924 per calendar month across all of England and Wales. When looking on a seasonally adjusted basis, average rent was £845 this month and 2.4% higher than the same point a year ago.