Rent Rises Reach All-Time Records

November 4th 2015
By: Melanie

Rent rises quicken as the average rents rose to £816 in September, a new all-time record in England and Wales according to the latest figures from the latest Buy to Let index from Your Move/Reeds Rains. Annual rent rises were 6.3% ahead of inflation, as the shortage of housing still continues to push rents up across the UK, especially in London, the South East, South West and the West Midlands.

London has become one the most expensive places to rent in the world, which has prompted politicians to take tighter control over landlords.The cost of buying a home, which for many still remains very prohibitive, has caused this boom in the rental sector over the past few years.

According to the English housing survey there are 1.4m more rented home in the UK than in 2008. Despite the recent rental increases tenants finances have improved despite the higher cost of living, as rent in some areas drops to 8.6% of all rent due.
Landlords are experiencing rental yield rises of 5.2%, while rising property prices take total annual returns to 9.4%.

If you are looking to invest in the buy-to-let market or would like to add to your property portfolio then why not pop into your local branch of Intercounty for a coffee and a chat or please call Intercounty's I for an Investment specialist Ed Casson on 01279 701013.