Signs of relief for tenants as rent rises slow

Rent rises slowed to their lowest rate in eight months, according to the latest Buy-to-Let Index from LSL Property Services plc.

In October, the average rent in England and Wales rose by 0.2% to £720 per month, the lowest monthly increase since February.

Annual rental inflation also slowed to 4.1%, a decline from 4.3% in September. Despite the slower pace of increase, rents have now risen for nine consecutive months, and stand at a new record high. The average yield remained steady at 5.3%.

On a monthly basis, rents increased the fastest in the South East and the East of England, where they rose by 1.5% and 0.8% respectively compared to September. Rents fell in three regions on a monthly basis, dropping by 1.4% in the North East and the South West, and by 0.8% in Wales.

Source: Property Talk Live