Regional lettings markets around the country are now outperforming London according to Your Move.
While rents in London grew 6.9 per cent in the last 12 months to reach an all-time high level of £1,391, this performance was bettered by the north east which saw rents up 12.3% in the same period: properties in this area now let for an average of £583 per month.
Across England and Wales as a whole rental properties now command an average of £887 per month, which the agency says is inflated by an increase in students starting tenancies, which particularly hits the London and south east figures.
The average gross rental yield for properties in England and Wales increased in August, reflecting increased rental income for landlords across the two nations.
The typical return yield across England and Wales during August was 4.7 per cent - higher than the two preceding months but well below the 5.1 per cent recorded a year ago.
The north east continues to be home to the highest yields - 5.6 per cent in August.
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Smart investors have known this for years!
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