Rental growth stalls as previously strong regions falter

Rental growth stalls as previously strong regions falter

Rental growth last month was almost flat across England and Wales despite regional variations.

Data from Your Move shows rents grew 0.5% annually and 0.1% on a monthly basis to £861 per month during April.

The West Midlands overtook the south-west of England as the fastest growing region, with annual growth up 4% to £641 per month.

The south-west of England had annual growth of 3.7% in the same period to hit £701.

In contrast, rents fell 2.2% annually in the east of England to £874 per month and declined 1.1% in London to £1,262 per month.

Martyn Alderton, national lettings director at Your Move, said: “It is the areas which have seen periods of strong growth in recent years, such as London and the east of England, which have dropped back slightly.

“Other areas of the country, including the West Midlands, are starting to catch up and are growing at an attractive rate.”