Rents surge in the North West and East Midlands

Ryan Bembridge

February 23, 2018

Rents in the North West and East Midlands increased faster than another other area of England and Wales over the course of 2017, Your Move research shows.

In the North West and East Midlands they increased by 2.9%, though they fell in London and the North East.

Across England and Wales as a whole they rose by 2.5%.

Martyn Alderton, national lettings director at Your Move, said: “With more tenants seeing renting as a long-term option, landlords, with their letting agent’s support, should identify features to encourage longer tenancies.

“For example, our recent tenant survey has found that more than a quarter of tenants would pay on average £24 more a month to live with their pets.

“Tenants are also prepared to pay more for communal living extras, such as a shared garden, childcare facilities or a gym.”

Yields wise the North East, (5.0%), North West (4.9%) and Wales (4.8%) lead the way, with London (3.2%), the South East (3.3%) and the South West (3.3%) having the worst returns.

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