Average house rental prices ‘reached all-time high in July 9/9/2016

linkuk_admin   September 12, 2016   Comments Off on Average house rental prices ‘reached all-time high in July 9/9/2016

Average house rental prices ‘reached all-time high in July

Source: THE WEEK 9 SEP, 2016

URL: http://www.theweek.co.uk/house-prices/61987/average-house-rental-prices-reached-all-timehigh-in-july

Rent in England and Wales was £846, despite EU vote

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The average cost of renting a home in England and Wales rose to £846 a month in July, according to estate agents Your Move – an all-time record high. The figure marks an increase of 5.2 per cent on the same month last year. The biggest regional rise is in south-east England, where rents were up 15 per cent, reaching an average of £924 per month.

According to The Guardian, the increase in the south-east was driven by people moving out of London to escape the capital’s high rents. The news is a surprise because a rush on landlords snapping up buy-to-let properties before the introduction of new stamp duty rates in April was expected to lead to lower prices.

Your Move also asked landlords about the Brexit vote. It says 72 per cent said they were equally likely, or more likely, to buy more properties for rental after the UK leaves the European Union.