Rental demand flourishing outside M25
Rents have increased by 2.35% in the East of England year-on-year to July – four times the UK average of 0.64%, Landbay’s Rental Index shows.
Rental growth surrounding London outside the M25 is highest in Luton (4.23%), Peterborough (3.75%), Thurrock (3.56%), and Bedfordshire (3.19%).
John Goodall, chief executive and founder of Landbay said: “With rising inflation and rock-bottom interest rates it is little surprise to see demand in the more affordable Home Counties rising faster than pricier parts of London and the South East.
“Naturally these surrounding areas are starting to experience a surge in rental prices, creating a ripple effect out from the capital.
“There are of course a number of factors at play, but as yields tighten in the capital landlords may well be branching out to the East of England in a bid to meet this demand.”