LETTINGS NEWS: South west rental income rises almost 5% in a year
One of the country’s most respected lettings sector indices shows that the average rental income for landlords in the south west has increased by 4.8 per cent in the past year.
The HomeLet Rental Index, compiled by an insurance groups and based on a sample of thousands of new tenancies, says the average rent in the south west has increased from £765 in December 2013 to £802 by the end of last month, December 2014.
This was the fourth highest regional performance in the UK and outstripped even the affluent commuter belt of south east England, where typical rental income rose 4.2 per cent over 12 months.
“This is a trend we expect to continue in 2015” explains Martin Totty, chief executive of the Barbon insurance group which compiles the index.