Jul
17
Home Rents Reach Record in England and Wales as BOE Frets
ByResidential rents in England and Wales rose at the fastest pace in six years to a record of 789 pounds ($1,232) in June as higher wages and a strengthening economy allowed landlords to charge more.
The 5.6 percent annual rent increase beat home-value growth for the first time since July 2013, according to a buy-to-let index compiled by brokers Your Move and Reeds Rain. Total return, a combination of capital value gains and rental income, averaged 9.2 percent in the period.
“The pedal is pressed to the metal in the rental market,” Adrian Gill, a director at the brokers, said in Friday’s report. “Expanding our housing stock needs to become a national priority.”…
Home Rents Reach Record in England and Wales as BOE Frets
