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Friday, April 28, 2017

Yourmove's BTL rent index for March

March's Your Move Buy to Let Indices for both Scotland and England & Wales have rents mostly up.

England & Wales stats:
  • Average monthly rent now £800 pcm.
  • East of England up the most, 1.6% in the last month, an annual rate of 7.4%.
  • East of England rent (£883 pcm) moves ahead of the South East (£845)
  • North East is still the cheapest region; average rental of £525 pcm.
  • London rent £1,203 pcm,  down 6.4% from January’s £1,280 pcm.
Rent index yourmove march 2017 england and wales

Valerie Bannister from Your Move, comments:

“Rents in London have declined in the last 12 months, falling from £1,297 a year ago to £1,203 in March 2017.

In previous months we have seen rents in the South East rise as people looked to move beyond the capital, but it is the East of England which appears to be seeing the bene t as rents here have risen 7.4% in the last year.

Though rents have dropped in the South East as demand continues to outstrip supply for affordable housing, the area remains good value for renters.” 

Scotland stats:
  • All regions rents are up.
  • Average annual rental growth now 3.8%.
  • Average rent is £565 pcm
  • Most expensive region remains Edinburgh and Lothians  at £651 pcm.

rent index yourmove scotland march 2017

Brian Moran from Your Move Scotland comments:

“March saw a stellar performance across Scotland as every single region recorded higher rents than the previous month.

Demand is increasing in segments of the market such as family homes, showing there is room for expansion of the rental sector.

This increased demand is being seen in areas such as the Highlands and Dumfries, suggesting the rental sector is extending beyond the big cities.

Yield levels have actually increased this month, bucking the trend seen in the rest of the UK. This shows Scotland remains a great place to invest, as well as a great place to live.”

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