Average rents fell 0.1%, from £804 to £803. Yes, that's right a drop of a whole pound.
Annual rental growth is now at 5.5%, slowing from the July rate of 6.8%.
Adrian Gill, director of estate agents at Reeds Rains and Your Move commented
‘August has witnessed a break in a series of blistering rent rises. Yet this mild correction comes on the back of a whole year of acceleration. Rents are rising rapidly on an annual basis, underpinned by an improving economic picture for many potential tenants and the peak lettings season is only just about to start this autumn,’
‘There is also no major change to the fundamentals of supply and demand. This means that in the longer term, faster rent rises may become a semi-permanent feature of the British property market. Alongside purchase prices, rents will continue to rise rapidly until something happens to address a drastic shortage of homes in the UK,’
For those of you who want to read the LSL BTL Index for August 2015 in full
Take advantage of our discounted landlord insurance rates
‘There is also no major change to the fundamentals of supply and demand. This means that in the longer term, faster rent rises may become a semi-permanent feature of the British property market. Alongside purchase prices, rents will continue to rise rapidly until something happens to address a drastic shortage of homes in the UK,’
For those of you who want to read the LSL BTL Index for August 2015 in full
Take advantage of our discounted landlord insurance rates
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