Rents dipped for the first time in ten months, according to the latest Buy‐to‐Let Index from LSL Property Services plc.
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- Monthly rents hit new high of £720 per month, but rate of increase falls to slowest since February
- Total annual returns for landlords rise to 2.9% as property prices stabilise
- Tenants’ finances take turn for the worse as 10.1% of rent late or unpaid in October
In November, the average rent in England and Wales fell by 0.4% to £717 per month, a drop from £720 pcm in October. This is the first month on month fall since January this year. Annual rental inflation also slowed to 3.5%, a decline from 4.1% in October. Despite the seasonal decline, the average property rent is £25 per month higher than in November 2010.
Full November Buy-to-let index is available here.
