Tuesday, 21 June 2016

Tax Changes Prompt A Fall In Rent

Rents have reversed their spring trajectory as a tide of homes to let bought before the Stamp Duty Surcharge have reached the private rented sector. Average rents for homes to let across England & Wales now stand at £792 per month, as of May 2016. This represents a drop of -0.2% since April, and compares to a long-term average monthly rise of +0.4% over every May since the recession. On an annual basis, rents are now 1.8% higher than in May 2015 – or half the annual rate of rental growth seen at the start of 2016, when in January this stood previously at 3.6%. Read more on 24dash.

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