RLA responds to North Kesteven enforcement policy consultation

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The RLA has called for guaranteed long-term funding of housing enforcement in its response to a consultation to a draft PRS enforcement policy in North Kesteven  The response explains that councils will be able to plan, and take effective action against those who exploit tenants through dangerous properties, if guaranteed long term funding of housing enforcement […]

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GDPR sees record number of calls to advice team

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With new General Data Protection Regulations (GDPR) come into force today, phone calls about the new regulations are continuing to flood in to the RLA’s Landlord Advice Team, with landlords making sure that they are doing what they can in order to be compliant. What are people calling about? Rupinder Aujla, Landlord Advice Team Manager said: “It’s […]

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Rents stable in England and Wales according to latest rental index

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Rental Yields April:

According to the Your Move rental tracker, average rents in the private rented sector (PRS) across England and Wales remained steady in April, that’s compared with the previous month. They were 4.4% higher than a year ago at £861 per month.

Only the North East and Wales saw rents decline, but with rent increases in the 12 months to April in the South West 3% and the East Midlands 2.9%. The North East and Wales declined by 1.6% and 0.5% respectively, with average rents of £526 and £590. The North East is the least expensive place to rent in the country.

London is the most expensive for rents at £1,275 but the rate of previous increases has slowed considerably, rising by just 0.1% in the 12 months to April 2018.

Yields in the East Midlands increased by an average of 4.3%, while remaining steady across most regions of England and Wales in March and April 2018. There was a slight drop in the North West from 4.9% to 4.8% and in the East of England from 3.8% to 3.7%.

4.4% was the average yield across England and Wales, which has remained unchanged. The North East showed the highest yield at 5%, whilst 4.8% was the average yield in the North West, and 4.7% in Wales. The lowest yield overall is 3.2% in London where prices remain high, which also applies in the South East and South West at 3.3%.

Martyn Alderton, National Lettings Director at Your Move, comments:

“The market in London has stopped its recent slowdown, but still lags behind the strong growth seen in the East Midlands. The South West also grew at a strong pace while the North East delivered the strongest yields to landlords. This shows that there’s something for every investor and landlord, whether yield driven or seeing capital appreciation, in today’s rental market.�

According to Martyn Alderton, average yields are still good news landlords who have experienced falling returns in recent months. An extra administrative burden due to increased regulation of the sector, slower rental growth and government tax changes have all contributed to a subdued investment market, but rental demand is strong.

Martyn Alderton says that “even areas which have seen yield levels fall or remain flat, property continues to deliver competitive returns compared to other forms of investment.�

Your Move England & Wales Rental Tracker

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