An index has revealed that private sector rents for landlords in England and Wales grew by 1.6% between May and June.
The findings from Your Move's buy to let index show that the average rent being paid is £827 per month; that's 2.1% higher than in June last year.
Landlords with properties in the North West and the West Midlands saw the biggest increases - up 0.3% to reach £629 and £609.
Rents grew by 0.2% in the East Midlands, the south east, and Yorkshire with landlords in Wales saw the fastest-growing growth of 7.2%.
Landlord returns remain stable
Richard Waind, a Your Move director, said: “When compared, rent prices have remained firm or increased and we suggest that political turmoil has had little impact on tenants. Yields being squeezed may be a sign of ending soon as landlord returns are stable.”
The findings from the index echoes research revealed by the Association of Residential Letting Agents (ARLA).
The association says that the number of letting agents in the UK who are reporting rent rises grew to its highest since April last year with 31% saying rents had risen in June.
Letting agents also report that there is slightly increasing supply though demand fell.
The report from ARLA also says that 83% of agents want the government to scrap the ban on letting agent fees, while 73% say the government should focus on enforcement for rogue letting agents.
David Cox, ARLA’s chief executive, said: “With the cost of living rising and inflation pressures, the last thing that tenants will need is for rents to rise. However, supply looks to be rising and demand has fallen slightly shows a move in the right direction.”
Student landlords discriminate against tenants
Meanwhile, an online letting agency which specialises in providing student accommodation around the country has revealed that student tenants are being discriminated against.
Though the sample of those questioned was small, the findings indicate that landlords are discriminating on gender and race.
Researchers found that one in five of those who responded said they had been discriminated against either by landlord before they made a booking for a student property or through the tenancy’s duration.
Most of those who said they were discriminated against were male who thought the landlord believed they would be louder and messier than female tenants.
One in four of those questioned said they had been treated less favourably as a tenant because of their race.
