English rents at second-highest level ever: Your Move

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Rents in England and Wales hit their second-highest ever level last month, at £900, according to Your Move.

The highest-ever average rent was £907, in September this year, according to the lettings agent’s latest buy-to-let index.

The index says London is still the area with the highest rents, at £1,290 in October.

This figure is 1 per cent higher than a year ago but below the levels recorded in the
spring months of 2016.

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Your Move director Adrian Gill says: “After a turbulent year for the economy it is no surprise the rental market has paused for breath this month.

“Despite economic uncertainty and the European Union referendum result, the lettings market has powered through the year so far.

“The underlying market remains strong and we expect growth to resume in future months.

“Landlords continue to see impressive yields and the UK property market continues to be a safe and secure place to invest.”

The typical rental yield in October was 4.7 per cent, the same as the previous two months.

However, it is down compared to the 5.1 per cent recorded in October 2015.