Growing Buy to let rents: 5.5% year on year

help-to-buyThe buy to let rents outside Greater London are growing strongly with an average increase of 5.5% over the last year. Rents in the South East grew fastest of all 7.2%, followed by the East Midlands at 6.8%. Regions in UK 11 out of 12 showed price rise in the last quarter till January when compared with the same last year, according to The latest Homelet Rental Index. The only region to see the plunge in price was North West of England.

Martin Totty, chief executive officer at Barbon Insurance Group, says: “There is still strong demand for rental properties, driven mainly by the long term structural imbalance in supply and demand of property. In recent years, the capital has seen much faster rates of increase than the rest of the country, but it may be that maximum affordability has now been reached in London and that rents will now track other parts of the UK more closely.”

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