• Lewis Dean Estate & Letting Agents

Lettings Market On Fire - Rental yields now highest for six years

Poole Rental Property

Recently published rental yield from Rightmove reveals that the average yield across Great Britain is 5.5 per cent.

This is the highest yield since 2016 when it was 5.6 per cent.

The North East and Wales have hit record yields, while yields in London, South West and Yorkshire are at their highest since 2015. Yields in the East of England and South East are at their highest since 2016.

The data comes in Rightmove’s monthly rental market tracker, which also states that average asking rents have increased at the fastest rate on record, and are now £1,068 per calendar month outside of London – that’s no less than 9.9 per cent higher than this time last year.

Average rental growth is outpacing house price growth in all but three regions - East Midlands, South West and the South East - while in London rents have hit a new record of £2,142 pcm, seeing the largest quarterly jump of any region.

Rents in the capital have risen beyond pre-pandemic levels for the first time, and are now three per cent higher than at the beginning of 2020.

Meanwhile competition between tenants for available properties is nearly double compared to this time last year.

Underlying all that, tenant demand is 32 per cent higher than this time last year but the number of available properties is 51 per cent lower.

When was the last time you reviewed the rent on your Poole property, does your Poole letting agent review your property rents annually? You can CHECK YOUR RENT value here.

For FREE no obligation health check on your property paperwork and values call Sarah on 01202 621900 or email sarah@lewisdean.com

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