UK tenants location

Some post-festive cheer in latest rental stats

While Christmas is a traditionally quiet time in the property market, the latest rental figures from Your Move show that 2018 ended with quiet growth in many areas.

Rents held up in December in 10 regions surveyed, compared to November, with the West Midlands recording the highest rise of 0.5% to a new average rent of £630. Rents in England and Wales were up by just 0.1%, but year-on-year the news is more encouraging with a hike of 1.8%.

Yields stay strong

Rather than tailing off at a time of year when priorities can lie elsewhere, rental yields also performed well. All regions showed the same yields in December as in the previous month, with the national average staying at 4.3%.

For the best performing yields around the regions, look to the north, where the north-east and north-west finished the year with the highest figures – 5% and 4.8% respectively.

The East Midlands recorded a small rise in yields on a yearly basis to 4.2%, but Wales, the north-west, the West Midlands and the East of England all saw their yields fall slightly over the course of 2018.

Tenancy arrears on the rise

Tenancy arrears showed a marked rise in the run-up to Christmas. The report showed 10.5% of all tenancies ended the month in arrears, up from 8.1% in November but that was a trend “that often occurs at this time of year” according to Your Move.

“While the rental market tends to wind down as we reach the end of the year, there were still some positive advancements this year, with prices rising in all but two regions,” said Martin Alderton, National Lettings Director at Your Move.

“While landlords in most areas saw their yields squeezed in 2018, there was good news as returns held firm between November and December.”

Rents in London remain far and away the most expensive in the country, running at an average of £1,263 despite a year-on-year fall of 0.8%.

Your Move regional breakdown:

January 2019 UK rents from Your Move report

 

Self-certified Sophisticated Investor

Please read

I declare that I am a self-certified sophisticated investor for the purposes of the restriction on promotion of non-mainstream pooled investments. I understand that this means:

I am a self-certified sophisticated investor because at least one of the following applies:

I accept that the investments to which the promotions will relate may expose me to a significant risk of losing all of the money or other property invested. I am aware that it is open to me seek advice from someone who specialises in advising on non-mainstream pooled investments.

High Net Worth Investor

Please read

I make this statement so that I can receive promotional communications which are exempt from the restriction on promotion of non-mainstream pooled investments. The exemption relates to certified high net worth investors and I declare that I qualify as such because at least one of the following applies to me:

STAY AHEAD OF THE MARKET

Sign up for first access to new developments and exclusive property investment opportunities.

We send limited and targeted emails on new launches and exclusive deals which best fit your areas. We are trusted by over 30,000 active buyers as their source for new stock.

  • New property developments
  • Professional market reports
  • Property deal alerts
  • Development updates
Manchester property investment

FIRST FOR NEWS AND KNOWLEDGE.

Receive trending news straight to your inbox and stay up to date on all of the property market trends and advice.

Established since 2005 we are a leading voice of authority and commentary on the UK property market. Our news is trusted by Apple News & Google News.

  • UK housing market
  • Mortgage & money
  • Buy-to-let landlords
  • Guides & advice

Talk to us

Speak to our UK property experts today:

 

+44 (0) 333 123 0320

Open from 9am-6pm GMT

 

+852 6699 9008

Open from 9am-6pm HKT