According to the data collected for the latest Residential Rental Index, the advertised rent for rental property in Yorkshire and the Humber is lower than any other area in England and Wales, meaning great value for tenants.
Advertised rents in Yorkshire and the Humber in November 2013 was recorded as an average £585, down 1.21% from the previous month, and 2.35% from the same time the previous year.
Rents were stable across England, except in the North East, where rents rose 10.35%. Rents in Wales also jumped, increasing by 7.43%. The general stability of rents across England has been attributed to the Help to Buy scheme.
However, the Leeds rental market does not appear to have been negatively affected. Luke Gidney, Director at Let-Leeds.com said, “…rents have fallen only very slightly, and in the majority of cases been fairly stable during the end of 2013 in some areas of Leeds however, Tenant demand is still extremely high so Landlords have little to panic about at this stage, especially as we are about to experience a large level of demand, a very seasonal trend, which normally hits us straight after the Christmas break. In essence, people moving to Leeds to Rent are extremely fortunate in that they get great value for money.”
As expected, Help to Buy has been skimming from the top, but with tenant demand as high as it is, landlords have little to worry about, especially seeing as rents in the region are shown to be among the most reasonable in the country.
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