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April 2016: Rents Increase at Fastest Rate since September

Rents across England & Wales increased at the fastest rate in the last six months in April, according to a new index.

UK House Price Investment

Rents across England & Wales increased at the fastest rate in the last six months in April, according to a new index.

Your Move & Reeds Rains have released their latest rental market index reporting that the average rent across England and Wales is now set at £793 – the highest rental level witnessed in 2016.


Month-on month, rents in April increased by 0.3% - the fastest monthly rent rise since September 2015. Rental rates also rose by 2.4% on figures from April 2015, meaning the average tenant pays an extra £19 every month compared to the same month last year.


The figures published by Your Move & Reeds depict a strong acceleration in the rental market, a trend also shown by Homelet’s April rental index published earlier this month, building on the lack of movement seen in rents throughout February and March this year, where rental rates did not move.


The index also shows that three key regions witnessed record-high rents in April. Surpassed only by London, the East of England saw a new all-time record rental rate of £848 per month, a 1% increase on figures from March and a 4.8% rise compared to April 2015.


Also performing at record rates were the East & West Midlands, with both regions witnessing a month-on-month increase of 0.4%, seeing rental rates reach new highs of £616 and £600 per month respectively.


In terms of annual rental growth, the biggest increases have also been in the Midlands, with rents increasing by 8.5% year-on-year in the East Midlands and by 6.2% in the West Midlands.