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The latest Buy-to-Let Index from LSL Property Services shows that annual rent rises across England and Wales have accelerated, with the average rent now 1.6% higher than twelve months ago, currently standing at £743 per month.
This is the fastest annual increase since November 2013, and compares with a year-on-year rise of 1.4% in January this year.
On a monthly basis, rents increased by 0.1% between January and February. This represents the first month-on-month increase in residential rents since October 2013.
In our local area we have seen a rise in rents over the past 6 months and now an average rental for a two bedroom apartment on our register is £843 per calendar month. These rental rises are bringing in more interested investors into the Buy to Let market which is good news as the need for more rental properties in Hertfordforshire is predicted to increase considerably over the next 5 years.
"Your local lettings experts, our advice is free but our knowledge is priceless"
I have been in and around the Hertfordshire property market for over 25 years, starting as an estate agent in the county town of Hertford and now running a successful lettings and property management company based in Stanstead Abbotts. I have let and managed property all over Hertfordshire from the area that I currently work to Wheathampstead where I owned and managed a lettings & estate agents to Watford and surrounding areas where my company acted as a marketing agent for one of the largest property management companies in the country”
Adrian Fallart - Property File
