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East of England leads strong regional growth in rents

New figures from Your Move suggest the rental market performed strongly across England and Wales, with rents rising in eight of nine regions.

The East of England was home to the fastest rising rents in the last year. Prices in this area increased by 6.9 per cent in the 12 months to the end of January and now stand at £870 per month. This region also also saw the fastest growth month-on-month with rents ticking up 0.7 per cent during January.

Your Move claims prices in this area may have been buoyed by people living in London looking beyond the capital for cheaper accommodation. 

Other areas to see strong growth included Wales – where prices increased by 6.5 per cent in the past 12 months to reach £586 - and the East Midlands which saw a 4.5 per cent uplift compared to a year ago. The average property in this region – which includes major cities such as Derby, Leicester and Nottingham – now lets for £634 per calendar month. 

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