Rents fall in October

Sarah Davidson

November 20, 2015

Rents in the South East dropped by 2.5%, followed by the South West (2.1%) and London (1.1%).

They rose in four regions, the East of England (0.7%), the North East (0.4%), Yorkshire & Humber (0.3%) and the East Midlands (0.1%).

Annually London leads the way with rents 10.7% higher year-on-year, while rents rose by 8.9% in the East of England and 5.7% in the East Midlands.

At the other end of the spectrum rents in Wales are 6.7% lower than a year ago.

Adrian Gill, director of estate agents Reeds Rains and Your Move, said: “The very peak of the lettings season has now passed – which means better deals are possible for tenants looking to rent later in the autumn.

“However, there has been no huge change in the fundamentals pushing rents higher than in previous years.

“Whether or not the sharpest mismatch between supply and demand lasts into October, the fact remains that the private rented sector is growing rapidly, driven by demand – and new properties coming onto the rental market are letting like hot cakes.”

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