Rents rose for the 10th consecutive month, according to the latest Buy-to-Let Index from LSL Property Services plc, which owns the UK’s largest lettings agent network.
In November, the average UK rent rose to £692 per month – £1 better than October’s record high of £691. However, the growth of 0.1% represents the smallest increase since rents began to rise in February.
However, recent rent increases seem to have ended in several parts of the country. The east of England and the east midlands reported falls of 3.1% and 2.4% in November, whilst rents dropped by 1.9% in the south east and by 0.6% in the north west.
The marginal monthly national gain was largely driven by rents rising by 1.8% in London, where they hit £992 per month – an increase of 9.2% in the last year.
The average yield rose slightly to 5% in November, thanks to increasing rents, contrasting with a slight decline in the value of an average rental property.
David Brown, commercial director of LSL Property Services plc, said: “In the run-up to Christmas
