Average rents up £107 in five yearsPosted on Apr 13th 2015
Rents are now 16.3% higher than five years ago, having risen by 2.8% over the last 12 months, according to the latest buy-to-let Index from Your Move and Reeds Rains.
In absolute terms, the average rent across England and Wales has gone up by £107 since January 2010 to reach £763 in January 2015.
This amounts to an average annual rent rise of 3% over the last five years. However, this represents a real-term increase of just 0.6% per annum when adjusted for inflation.
Most recently, rents have fallen on a monthly basis, down 0.6% between December 2014 and January 2015.
LSL, parent company of Your Move and Reeds Rains, noted that its data is now “much more closely matched” by the Office for National Statistics after the latter revised its own information.
Annual rent rises in England and Wales have averaged 2.4% since January 2012 according to the Your Move and Reeds Rains analysis. The revised ONS measure has averaged 2.1% over the same period.
The index also showed that just 3.8% of tenants are now in arrears, compared with 11.1% in January five years ago.