Eastern Promise

The east of the country saw the fastest growth in rents last year, according to Your Move’s rental tracker.

Prices in the region led the way across England and Wales in 2017, with the average monthly rent increasing by 3.3 per cent in 12 months to reach £893.

In the year to the end of January 2018, eight out of 10 regions recorded rent increases, taking the average price in England and Wales up to £829 per calendar month.

The north east becomes the cheapest area to rent in the UK, with the average rent at £534.

Although prices in the majority of regions have risen, it appears tenant arrears did the opposite, with the proportion of households in arrears dropping month-on-month from 12.4 per cent in December to 8.4 per cent in January.

Martyn Alderton, national lettings director at Your Move, says: “The new year has started in a positive fashion for the rental market in England and Wales with only London and the north east seeing prices fall.

“And, while 2017 saw the yields achieved by landlords continue to be squeezed, landlords can begin to feel more confident in the market as levels begin to stabilise.”