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TODAY'S OTHER NEWS

Yields stable as rental market settles down for summer

There has been no change to rental yields across the UK over the past month as the lettings market settles down for summer, according to new figures from Your Move.

The strongest returns were to be found in the North East, where properties typically returned 5.0 per cent to investors. In the North West that figure was 4.8 per cent. 

At the other end of the scale London offered the smallest yields at 3.2 per cent. 

The average yield across all of England and Wales was 4.3 per cent in May, unchanged from April but very slightly down on the 4.4 per cent recorded a year ago.

Meanwhile there was another fall in the level of tenant arrears in May, as the financial picture of renters improved once again. 

Across England and Wales 8.9 per cent of all tenancies were in arrears of some kind during the month. 

This is down on the 9.1 per cent recorded in April and even lower than the 9.4 per cent in both March and February. 

The proportion of tenants in arrears remains well below the both the recent and all-time high recorded by Your Move. 

The all-time high of 14.6 per cent was recorded in February 2010 while the most recent high of 13.7 per cent was found in July 2017. 

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