Biggest rent rises in East Midlands, as prices fall in London

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  • 03/05/2018
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Biggest rent rises in East Midlands, as prices fall in London
Rents in Leicester have grown the fastest over the year to April, while falling in London over the same period, according to research.

 

The typical rent in England is now £1,232 a month – a increase of 0.64% compared to the same period a year ago, Landbay’s rental tracker showed.

The East Midlands has seen the biggest rises, with Leicester rents increasing by a bumper 3.02% over the time period.

In Nottingham and Northamptonshire rents leapt by 2.96% and 2.44% respectively.

But in London rents have fallen in 17 out of 33 boroughs, skewing the national picture.

Kensington and Chelsea rents have dropped by 1.4%, the biggest fall in any part of the country, while Kingston upon Thames, Hammersmith and Fulham and Tower Hamlets were the next worst performing areas of the capital.

 

North East slips

Rents remain cheapest in the North East and have fallen month-on-month since the start of the year.

John Goodall, chief and co-founder of Landbay (pictured), said: “Falling rents in some parts of the country, especially expensive prime London locations, distort the picture for the rest of England where rents are continuing to grow at a steady pace.

“Britain will always need homes, and the growing cohort of people that can’t buy, or don’t want to, will more than ever rely on the private rental sector to house them in the years ahead.

“Prospective landlords need to be astute to maximise their profits, using variations in rental growth and yields over the past year to pick out some of the most promising regions for buy-to-let.”

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