Spring heat from rental market - as tenants feel first rent rises since September

Posted 18/03/2016 by: Reeds Rains Press Office

  • First monthly rent rises since autumn 2015 take average rents to £791 per month across England & Wales
  • Tenants pay 3.3% more than 12 months ago – or an extra £25 per month – as anti-landlord policies loom
  • East Midlands home to 7.0% annual rent rises, followed by West Midlands, East of England – then London
  • Tenant finances weaken in February, with 8.8% of all rent due in arrears – up from 7.6% in February 2015
  • Existing landlords see gross annual returns reach 12.7% or £23,227 in absolute terms – a 17 month high

Tenants face the first rises in market rents since the autumn, as the private rented sector braces for anti-landlord policies, according to the latest Buy-to-Let Index from Reeds Rains.

Average rents are now rising on a monthly basis for the first time since September 2015, up 0.1% between January and February.

Rents across England & Wales now stand at £791 per month as of February, 3.3% higher compared to this point last year – or an extra £25 per month for the average tenant.