According to the latest rental figures on real time data source the Rentindex rents have continued to climb. This is despite the expected slowdown in rental activity as Christmas approaches. Clearly landlords continue to feel confident that they can let their property and avoid the dreaded rental void over the Winter.
The Rent Index is currently showing that the average buy-to-let rent in England and Wales stands at just shy of £665. This is a record level for the Index since it's beginning in 2008.
The average UK buy-to-let rent now stands at £100 above the level it stood at in 2008 just after the credit crunch. Given that since then many landlords have seen interest charges on their main expense their buy-to-let mortgage collapse then its no surprise that many of us are making record rental profits.
Rents now stand at 3.4% up on last year and are showing a 4.4% increase over the last 6 months.
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I suspect this increase is mostly down to increased costs and risk imposed on landlords by virtue of recent legislation, and does not represent increased yield or profit. It is a free-market response to government action, and the price tenants have to pay for what governments do.
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