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Rents dip in England and Wales, admit agentsRents have fallen slightly in December across England and Wales according to data from Your Move and Reeds Rains letting agencies.

Although the average residential rent across England and Wales now stands at £767 compared to £745 in December 2013, there was a dip of 0.1 per cent last month.

Historically there is a tendency for rents to ease in the winter, particularly December. Last month that did happen, but by less than the usual extent.

Rents are higher than a year ago in eight out of 10 regions of England and Wales. This is led by the East of England with a 7.6 per cent annual increase. The East Midlands has seen rents rise by 6.2 per cent, followed by London on 4.1 per cent and Yorkshire & the Humber with a 3.4 per cent annual increase.

By contrast rents in two regions are lower than a year ago. Average rents in the North East fell by 2.1 per cent and in the South West they are 1.0 per cent lower.

The South East has seen the sharpest month-on-month fall in the cost of renting, down 1.5 per cent between November and December.

Tenant finances also deteriorated in December; the proportion of all rent in arrears stands at 8.9 per cent, up sharply from from 7.5 per cent in November.

However, over 2014 as a whole tenant arrears average 7.5 per cent of all rent, down from 8.1 per cent over the previous 12 months.

Comments

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    Good Lord! 8.9% arrears - we would go out of business if we had that level of arrears ! At the very least our Landlords would be pulling properties away from us due to lack of confidence in out ability to select decent quality tenants.

    I honestly wonder where these statistics come from sometimes.

    • 17 January 2015 07:39 AM
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