Rents rising fastest in the East of England

Rents rising fastest in the East of England

The latest analysis from Your Move’s buy-to-let index has revealed that rents in the East of England are rising faster than any other region in England and Wales.

Including cities such as Norwich and Cambridge, the average rent in the East of England has risen to £887 per month over the last 12 months, which is a 6% uplift.

Elsewhere across England and Wales, rents have risen by an average of 2.4% year-on-year.

Commenting on the figures, Martyn Alderton, National Lettings Director at Your Move 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 areas that have seen strong rental growth include the East Midlands at 3.2% and the North West at 3.1%.

When it comes to the best rental yields in the country, these are currently being achieved in the North East at 5.1% and the North West at 5%.