Rents per calendar month increased by an average amount of £865 in England and Wales in 2018, an increase of 1.8%. The figures are taken from the latest lettings sector tracker report by Your Move.
The South West saw rents rise faster than any other region when looking at the year as a whole. The West Midlands however show the biggest increase for month on month data.
The South West rental figure increased by 4.1% to £702 per calendar month. In the East of England the average rent has actually fallen 1.4% since December 2017 to an average per calendar month of £881. In the South East rental prices rose by 1.2% to reach £897.
Average rents in London fell year on year by 0.8% to £1263. London still of course remains the most expensive place to rent in England and Wales.
The mid-range priced rental properties in prime central London received some encouragement in activity levels following a softening of asking prices overall. Demand fell for families and corporate tenancies looking for higher end properties and this brought prices down in areas that would typically be targeting families.