Buy-to-let regulations fuel rent rises
Estate agent Your Move analysed rental prices on around 20,000 properties and found the average rent in England and Wales rose by 3.1% in the past year to £874.
The rise in rental prices can be attributed to the recent tax changes affecting landlords, such as the mortgage interest relief and 3% stamp duty land tax surcharge.
Tax changes have also restricted the supply of new properties on the market, with a fall in housing stock levels pushing up rent prices.
For further information on buy-to-let regulations, please contact Arthur Bell on 023 8046 1258.