Average rents rose on a monthly basis for the first time since September 2015 – up 0.1% between January and February, Your Move and Reeds Rains research suggests.
Average rents rose on a monthly basis for the first time since September 2015 – up 0.1% between January and February, Your Move and Reeds Rains research suggests.
Rents across England and Wales now stand at £791 per month as of February, 3.3% higher compared to this point last year – or an extra £25 per month for the average tenant.
Adrian Gill, director of lettings agents Your Move and Reeds Rains, said: “Rent rises could accelerate further if government attacks on landlords bite and having worsened again in this week’s Budget – the flow of investment from landlords could wilt.
“It is hard to understand the logic behind restricting the flow of new investment and the competition between existing landlords.
“Additional taxes on the purchase of new buy-to-let properties will not support the stated aims of these policies – namely to improve home ownership.
“By attacking buy-to-let, the government will only serve to push up market rents more quickly, stymieing the efforts of many tenants to raise a deposit to buy a home – while also boosting returns for existing landlords with the best advice to navigate new complications.”
