Rents up 4.4% year-on-year in May
The average rent in England and Wales increased by 1.5% in May to reach £696, according to the latest Buy-To-Let Index from LSL Property Services.
The data shows rent reached a record high in May after four consecutive monthly increases, and rose by 4.4% compared to May 2010. The average yield also remained at a record high of 5.1% in May.
Between April and May, rents increased fastest in the East of England and the North East, rising by 1.4% and 1.1% respectively. Rents fell in just three regions: the West Midlands, by 0.7%, the South West, by 0.6%, and Wales, by 0.2%.
Tennant arrears decreased in May, with 11.5% of all UK rent unpaid or late by the end of the month, compared to 11.8% the previous month, but well above the average 10.6% for 2010.
June 17, 2011
Get started today
Speak to one of our mortgage experts. Book an appointment to come and see us or request one of our experts to call you.
