East of England leads the way as rents continue to rise

The east of England saw the fastest rent rises in 2016, but rents went up by just £10 last year in the capital, according to the latest Your Move Buy to Let Index.

The figures for December show the average rent in England and Wales ended 2016 at £811, up from £790 at the start of the year.

The East of England saw the highest growth at 6.1% to £864 a month, while the South-East saw rents climb 4.6% to £877.

London rents went up by just £10 to £1,291 but there were drops in the South-West and North-East.

South-West homes now let for £660 per month, 1.4% lower than 12 months ago, according to the index. The North-East saw a smaller fall with prices down 0.2% on the year to £543, which is the cheapest in England and Wales.

Valerie Bannister, lettings director for Your Move, said: “The rental market in England and Wales ended the year strongly, with all key indicators looking positive.

“Rents ended the year higher than they started in most areas, yet tenant arrears have remained broadly at the same level.

“Average yields have remained stable across the country, with some regions continuing to offer well above average returns to investors.”

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