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Rents dip as Christmas nears – but theyve risen 4% in 2015
Another rental index suggests there has been a seasonal dip in rents – although across England and Wales as a whole the average rent is four per cent higher than a year ago.
Your Move and Reeds Rains says November rents dropped 0.9 per cent to an average £799 per month across England and Wales.
However, despite the festive dip, the annual pace of rent rises stands at 4.0 per cent over the course of the last 12 months, with London rents 8.9 per cent higher on an annual basis.
“Two and a half years ago we predicted rents breaking through £800 in mid-2015. This became reality in July when average rents soared through that boundary. Winter will be a pause” says the agencies’ director, Adrian Gill.
He also reiterates his recent warnings against government attacks on the buy to let sector.
“Negative campaigns and unconstructive policies – designed to attack landlords rather than support tenants – will not make rents lower or provide more homes. The effect will be quite the opposite, forcing rents upwards” he warns.
