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Rents rise for sixth successive month, say agents

Rents rise for sixth successive month, say agents

Average monthly rents across Britain rose for the sixth month running, to £842.

The figure is from Countrywide, the UK’s largest chain of agents, which said that the best yields for landlords are being achieved in Wales at 6.7%, followed by the North and Midlands, both at 6.5%.

The best yields generally are on one-bedroom properties and smaller properties.

Average monthly rents for April did fall in some areas – London, the South-East and Wales. Countrywide puts the fall in central London down to high stock levels compared with last year, when the Olympics were coming up. It says that this April, tenants viewed multiple properties and put in offers lower than the asking price, which some landlords accepted.

Countrywide, which uses its own data of 50,000 properties that it manages across England, Wales and Scotland, says that rent arrears are falling in all regions apart from Scotland.

The company also says that buy-to-let property investments remain a strong performer when compared with savings and other vehicles of investment, and expects this to continue.