Buy to let rents are stalling for landlords, according to the latest official data. Rents across the country have stuck at a year-on-year increase of 0.9 per cent for the past two months, says the Office for National Statistics.
England has followed the average and steadily dropped since the last quarter of 2015, while rents in Wales and Scotland increased until earlier this year, slipping back in Scotland to 0.6 per cent growth and 0.7 per cent in Wales.
Buy to let rents in London fell by 0.2 per cent again in October, the same as the year-on-year figures for September.
“Rental prices for the UK excluding London increased by 1.4 per cent in the 12 months to October 2018, down slightly from 1.5 per cent in the 12 months to September 2018,” says the monthly ONS Index of Private Housing Rental Prices.
“London private rental prices decreased by 0.2 per cent in the 12 months to October 2018; unchanged from the 12 months to September 2018.”
The latest rent figures for Northern Ireland were issued in June 2018, and showed a 1.7 per cent annual increase. The next update is expected in December.
Buy to let rent changes – January 2012 – October 2018
The UK is England, Scotland, Wales and Northern Ireland – while Great Britain excludes data from Northern Ireland.
Regional rent changes England 2018