Record breaking rents continue

Record breaking rents continue

After breaking records in July, rents remained sky high in August - topping the £1,400 threshold for the second month in a row says Goodlord’s latest Rental Index. The average rent for a property in August was £1,438, slightly lower than the record figure of £1,470 recorded in July. Year-on-year, however, rents are up by nearly 7%.

Greater London was the only region to see a shortening of voids, with void periods reducing from 13 days to 12 days in August. The Index also recorded a reduction in salaries for renters signing new tenancy contracts in August, with average pay down from £38,086 in July, to £36,719 in August - a reduction of 3.6% month-on-month. Year-on-year, salaries are now up by 0.86%, compared to a 7% rise in rents.

 

Our award-winning team look forward to helping you make your move stress-free.

 

Arins Property Services - selling & letting homes in, Lower Earley, Shinfield, Tilehurst, Winnersh, Reading and Wokingham since 2009.

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