You are here: Home - Buy to Let - News -

UK rents continue to rise

0
Written by:
10/04/2013
Rent levels across the UK have continued to rise in the past 12 months, according to the latest Countrywide lettings index.
UK rents continue to rise

The property giant found that London continues to lead the average rental figures with the centre of the capital attracting rents of £2,387 per month, while those in Outer London averaged £1,107.

The firm reported that the average monthly rent in Inner London is now over four times the average in Scotland.

Properties in Scotland also take longer to rent out than any other region. The average property remains on the market for an average of 19.3 days compared to just 13.4 days in the South of England.

Scotland and the South East were the only areas of the country to post a year-on-year fall in rent prices while the East of England and Wales have shown the greatest growth.

The average rental yield across the UK stands at 6.2%, with Wales posting the biggest yields (6.7%). Inner London offers the poorest rental yields, the report said, returning just 4.6% to investors.

Nick Dunning, group commercial director at Countrywide, said: “The growing average monthly rents across the UK shows the increasing attractiveness of regions outside London. London remains a good place to buy property, but investors are venturing further afield for investment opportunities.

“Scotland is an anomaly to this – with falling rents and increased arrears being compounded by recent legislative changes, investors might be deterred from buy-to-let investment.”

Tagged:

There are 0 Comment(s)

If you wish to comment without signing in, click your cursor in the top box and tick the 'Sign in as a guest' box at the bottom.

Your Mortgage Guides

Your Mortgage Award Winners 2020-2021

Download our guide to the best mortgage lenders in the UK

Read More >