Rents dip in run-up to Christmas

Rents dipped for the first time in ten months, according to the latest Buy-to-Let Index from LSL Property Services plc.

In November, the average rent in England and Wales fell by 0.4% to £717 per month, a drop from £720 pcm in October.

This is the first month on month fall since January this year. Annual rental inflation also slowed to 3.5%, a decline from 4.1% in October. Despite the  seasonal decline, the average property rent is £25 per month higher than in November 2010.

On a monthly basis, rents fell in six regions, with the biggest declines in the East Midlands, where they fell 2.2%, and the South East, where they fell by 2.1%. The largest rises were Yorkshire & the Humber and Wales, where rents increased by 1.2% in both regions. However, in the last 12 months rents have risen in all regions.

Source: Property Talk Live