There was a modest rise in the residential rent prices in the UK over the past month. The figure of 0.7% is nothing to be excited about by itself but it does continue a reasonably consistent trend for growth that is hopeful.
There was one month where things dropped but overall there appears to be an upward trend in what we are earning from our rental properties. In the main the experts are putting this trend down to a decrease in the availability of rental properties, there have not been fewer on the market since October 2008. This allows landlords to charge a fair rent instead of the cut price one some of them had resorted to.
Observers of the national trends are quick to point out, interestingly, that only looking at the figures for the whole country actually gives you a warped view of what is happening in the regional areas. South East England is seeing the rental market go ahead in leaps and bounds for example with a rise of around 2.3 % whereas those in the North East are suffering the opposite effects with the rental yield dropping by nearly 2.3%
From these figures it would seem that it has never been more important to do your geographical homework before adding a new property to your portfolio.
