Tenants face the first rises in market rents since the autumn, as the private rented sector braces for anti-landlord policies, according to the latest Buy-to-Let Index from Your Move and Reeds Rains.
Average rents are now rising on a monthly basis for the first time since September 2015, up 0.1% between January and February.
Rents across England & Wales now stand at £791 per month as of February, 3.3% higher compared to this point last year – or an extra £25 per month for the average tenant.
Adrian Gill, director of lettings agents Your Move and Reeds Rains, says rents are likely to rise more this year, adding: “Additional taxes on the purchase of new buy-to-let properties will not support the stated aims of these policies – namely to improve home ownership. By attacking buy-to-let, the government will only serve to push up market rents more quickly.”
On a regional basis rents are led by the Midlands, with East Midlands tenants seeing the fastest annual rent rises, up 7.0% over the last twelve months. This is followed by the West Midlands with 6.3% and the East of England with rents 6.2% higher than in February 2015.