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October 2017 - The North West is home to fastest rising rents in the UK

Fast Facts

  • Average rent rises in most areas of England and Wales.

  • North West is home to fastest growth.

  • Significant improvement in tenant finances.

  • Yield levels have stabilised across the country.

Quick Quotes

Martyn Alderton, National Lettings Director for letting agents Your Move and Reeds Rain, comments:

"Once again the strongest rent growth was found in the areas away from London and the South East. As activity in the capital slows, prices and activity have risen in the north."

"There was a stellar performance in the North West, with rents increasing by 3.6% over the year and landlords seeing a high yield rate of 5%."

"Yield levels have started to stabilise across surveyed areas after being squeezed at the start of the year. This is good news for landlords and demonstrates the resilience of the sector."

Key insights

  • Most areas of England and Wales have seen rental price growth over the last year, although the best performances continue to be seen in the regions away from London.

  • On a non-seasonally adjusted basis, the average rent charged to tenants was £938 in September, the Your Move England & Wales Buy to Let Index found.

  • On a seasonally adjusted basis, the average rent was £843 in September, higher than the £841 recorded last month and 3.2% up on the same point in 2016.

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