Average rent in England and Wales now £736 per month

Rents in April increased to their highest level since November
2012

The average rent in England and Wales has risen by 0.2 per cent
since March, to £736 per month, according to the latest figuress from LSL Property
Services. Rents in April are now 3.9 per cent
higher than a year ago.

For the first time since November 2011, the LSL figures show that every region of England and Wales saw rents rise on an annual basis.  The highest increases were in London, where rents are 7.6 per cent higher than a year ago, followed by Wales (5 per cent) and East Midlands (4.1 per cent).

On a monthly basis, eight out of ten regions saw rents rise. The biggest increase was in the East Midlands where rents rose 0.6 per cent. Rents dropped the fastest in Wales, down 0.3%.

David Newnes, director of LSL Property Services, said: "Despite a year-on-year increase across the board, the divergence between London and the rest of the country is continuing, even if a little slower than last month.  Landlords across the UK have increased the stock of rental properties by around 10 per cent since 2008 – but the more fundamental squeeze is still coming from a lack of new building.”

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