Buy To Let
London rents rose by just a tenner in 2016
Guest Author:
Christina HoghtonLondon rents ended last year at £1,291, just £10 more than a year earlier, according to research from Your Move.
The estate agent said that average rent was £811 in England and Wales during December, compared to £790 at the start of last year.
The East of England saw the fastest rent rises in the last 12 months, closely followed by the South East, while most regions saw rents rise or stay broadly flat compared to 12 months ago.
Just two regions saw a year-on-year decline – the South West and the North East. London continues to be home to the most expensive rental properties, as it was at the start of the year.
Valerie Bannister, lettings director at Your Move, said: “The rental market in England and Wales has ended the year strongly, with all key indicators looking positive.
“Rents ended the year higher than they started in most areas, yet tenant arrears have remained broadly at the same level. Average yields have remained stable across the country, with some regions continuing to offer well above average returns to investors.”
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