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North East Achieved the Highest Rental Yield in December

The North is continuing to outperform the South in growing rents, according to a new report.

North East Property Investment

The North is continuing to outperform the South in growing rents, according to a new report.

Estate agent Your Move’s latest Buy-to-Let Index revealed that the North East achieved the highest rental return of all the regions in England and Wales in December, achieving 5.3%.


The North West of England and Wales were the next best performing regions, with an average rental yield of 5.1% and 4.8% respectively – both above the national average of 4.7%.


In terms of rental rates, the East of England and the East Midlands achieved the highest growth, rising to an average of £864 and £633 per calendar month respectively. This marks annual increases of 6.1% and 5.5% in each region.


Wales also experienced strong growth to reach a new average of £584 in December – a year-on-year increase of 4.9%.


Across England and Wales, rents reached an average of £831, increasing by 2.2% on December 2015 and month-on-month growth of 0.1% from November 2016.


Of all the regions analysed, the East of England was home to the largest monthly growth, rising by 0.7%.


London was the only region to see a month-on-month decrease in rents, falling by 0.3%, whilst all other regions experienced either an increase or remained steady between November and December.


Commenting on the report, Head of Lettings at Your Move, Valerie Bannister, said:

 

‘The rental market in England and Wales has ended the year strongly with all key indicators looking positive. Rents have ended the year higher than they started in most areas and yet, as our Index shows, tenant arrears have remained broadly at the same level.’

 

Earlier this week LSL Property and Acadata announced that house prices have reached a new historic peak in January 2017, after experiencing a year-on-year increase of 3.1%.

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