Average rent in England and Wales is £811 says Your Move

Average rents ended 2016 higher than they started it according to figures from Your Move relating to England and Wales.

The average property was let for £811 a month in December; by comparison, the average rent in January 2016 stood at £790.

Despite a slight dip between November and December last year, London remains home to the highest rents in England and Wales. The typical property let for £1,291 in December, just £4 lower than November’s total of £1,295. The capital was the only region to see a fall in rents month-on- month as the rest of the country.

Rents in the East of England grew 0.7 per cent in December alone – the highest of any region. This was followed by the South West (0.6 per cent) and the East Midlands (0.5 per cent).

On an annual basis, the East of England saw rents rise faster than any other region – up 6.1 per cent over the course of 2016 to an average of £864 per month. The East Midlands was the next best performing area as rents grew 5.5 per cent to £633. Other areas to perform strongly included Wales (up 4.9 per cent) and the South East (4.6 per cent).

Only two areas saw average rents fall on a yearly basis. In the South West homes now let for £660 per month, 1.4 per cent lower than 12 months ago. The North East saw a smaller fall with prices down 0.2 per cent on the year.

Across the whole of England and Wales the average rent stood at £811 in December 2016. At the same point in 2015 this figure was £794.

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