General election has little impact on rents across England and Wales

It appears that the general election had little impact on rents across England and Wales as they either rose or stayed level in June – according to the latest Buy to Let Index from Your Move.

The average rent stood at 827 with three out of ten regions seeing rents remain stable month on month, or rise including the North West and West Midlands where prices increased by 0.3% over the month. Only the South West and London saw rents fall – although London, where average rents were reported as 1,277 in June, continues to be the most expensive place to rent in England and Wales.

There are also some signs of improvement in terms of landlord returns and in relation to tenant finances with the percentage of households in rental arrears in England and Wales falling and the proportion of tenants in arrears being significantly lower than the all-time high of 14.6% – which was recorded in February 2010.

Richard Waind, a Director at Your Move commented: Compared to May, rental prices have held firm or continued to increase suggesting that recent political turmoil has had little immediate impact on renters.

To see the Buy to Let Index in full, please access the Your Move Media Centre at https://www.your-move.co.uk/buy-to-let-index/july-2017/overview

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