Property Hawk the landlord's homepage since 2006
Free Tenancy Agreement FREE tenancy agreement
Free Landlord Software FREE landlord software
Home | Property Manager | Free ASTs | Landlord Forms | Mortgages | Insurance | Inventory | Magazine | Landlords Bible | Directory | Forum | Training | News / Blog |

Tuesday, November 11, 2014

Rents rise to record high

The average rent in England and Wales now stands at a record of over £650 according to the Rentindex.  This is a rise of almost 7% over the last 6 months (this includes seasonal factors).  Over the year the rents now stand at 2.7% the level at this time last year which is a full 1.5% above the current inflation level of 1.2%.

The total value of rents was £44.8bn in the year to June – up 5.5 per cent on a year ago and equivalent to nearly half the UK’s total annual household expenditure on food.

A word of caution we are now entering a seasonal period of rent deflation as landlords fight to get a tenant in to their rental property rather than going for top dollar preferring instead to avoid the void. 

This historically continues until the spring when landlords recover their nerve.

Mortgage Search - expert broker - whole of market

No comments: