Want to Know the Best Region For Buy-to-let Property?

The South West and East of England have become more expensive for renters while at the same time, the north of the country beckons for an increasing number of landlords.

A 1.9% rise in the average rental cost of £953 was recorded as shown in The Hamptons International Monthly Lettings Index.

In the North however, rents fell by 0.3% compared with the same time last year, for a new average monthly rent figure of £622. The picture is different in the south where rents grew by 2.2% to £1,372 per calendar month.

The change is due to more landlords pulling out in the South when compared with the North, pushing rents lower in the North and higher in the South.

A 3% increase in rents for a new average rent per year of £679 was recorded in the South West, making it the fastest growing area in the UK in terms of rent.

One aspect of the figures that may be of concern to landlords is that 9.4% of all tenants were in arrears, growing from the figure of 9.1% recorded in March.

For those landlords that have decided to stay in the Market, the South West and The East Midlands are the standouts according to Martyn Alderton of Your Move:

"This is good news for landlords who have been battling falling returns in recent times, thanks to a combination of slower rent increases and government tax changes."

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