Rents rebound after slow summer months

Ryan Bembridge

September 9, 2016

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Rents in England and Wales are climbing again after slowing down over the summer, Your Move’s buy-to-let index has found.

Typical rents increased by 5.2% year-on-year from £803 to £846 in July 2016, up from £810 in June and £792 in May.

Rents in the South East rocketed by 14.9% to average at £924 over the period, suggesting Londoners are moving from the capital where rents are £1,273.

Nationwide HPI: September house price growth softens

Adrian Gill, director of lettings agents Your Move, said: “The UK’s vote to leave the European Union has not caused any immediate change in the rental market, although we must wait for longer term trends to develop.”

“For landlords, market sentiment remains positive with the vast majority still looking to add to their portfolio of properties, despite the Brexit vote.”

“The South East was home to the biggest leap in rents, with many Londoners moving further afield in an attempt to escape high rents in the capital.”

Yields were on a downward trend, standing at 4.5% after falling from 5.1% in July last year.

The North East had the highest yield at 5.5%, despite having the lowest house price in the country at £118,821, while London had the lowest yield at 3.2%.