Rents Hit All Time High

According to the latest statistics by LSL, average rents in England and Wales hit an all time high last month, averaging £768, 1.5% higher than the same time last year.

Across England and Wales, there is a mix of results, with the West Midlands 2.4% lower than a year ago, and a drop of 2.3% and 1.1% in the North East and Wales respectively.

Between August and September the average rent in the South East increased by 1.8%, in the North West by 1.4% and in the North East by 1.2%.

The slowest month on month rent increases were in the East Midlands, up 0.4% and London ann the West Midlands, where rents increased from August to September by just 0.5%.

The average landlord in England and Wales has seen a return, before deductions such as mortgage payments and maintenance, of £22,706 in the last year. This is made up of rental income of £8,379 and an average capital gain of £14,327.

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