UK_home_rents_reach_all-time_high - Investor Today
UK rents soared again in April fuelled by a spring surge in demand, according to the latest Buy‐to‐Let Index from LSL Property Services.
In April, the average rent in England and Wales rose by 0.8% to £692 per month, matching the record high reached in November 2010.
The growth means that rents are now 4.4% higher than a year ago, the highest annual inflation since November 2010. The average yield reached 5.1% in April as rents increased at a faster rate than rental property prices.
David Newnes, estate agency managing director of LSL Property Services, said: "The rental market is heating up as thousands of would‐be tenants have taken advantage of the weather and long weekends to hunt for new rental homes.
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