Rent in East of England see steepest rise

Rents in the East of England are rising faster than any other region in England and Wales, Your Move’s buy-to-let index has found.

Rent in East of England see steepest rise

The average rent in the East of England – which includes cities such as Cambridge and Norwich – has risen by 6% to £887 per month in the past year.

Across the whole of England and Wales rents have climbed by 2.4% year-on-year.

Martyn Alderton, national lettings director at Your Move and Reeds Rains, said: “As we approach winter, the heat has been taken out of the rental market and price growth has slowed.

“While prices in most areas have continued to rise, it has been at a slower pace than we had been used to in recent years.

“Across England and Wales, rents have grown by 2.4% in the past year although some areas, such as the East of England, have performed above that level.”

Other strong areas for rental growth are the East Midlands (3.2%) and the North West (3.1%), though they both started from a lower base to reach £648 and £633 per month respectively.

The best UK yields are currently found in the North East (5.1%) and North West (5.0%), with the worst area being London (3.2%).

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