Rents for buy-to-let properties rise by 4.8%
Figures published today reveal that continuing strong demand for rental properties last year led to a 4.8 per cent growth in the average rent achieved by buy-to-let landlords.
The average monthly rent climbed to £716 in 2011 as a result, up from £682 in 2010.
The figures published today by BM Solutions – Lloyds Banking Group's buy-to-let arm – echo a survey earlier this month from Rightmove which revealed an increase in rental search activity online.
Today's figures show that the highest rental yields last year of 7 per cent were achieved in the North. The South lagged far behind, with London bottom of the rental yield table with just 4.8 per cent.
The North-west, Yorkshire and the Humber all achieved 6.3 per cent, while in Wales the yield was 6 per cent, just ahead of the 5.9 per cent achieved in both the West Midlands and the East Midlands.
Phil Rickards of BM Solutions said: "There is a very healthy demand for rental properties across the UK right now, which in part may be driven by the costs associated with buying a home: costs which, for some, will only increase as the stamp duty holiday comes to an end."
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