One and two bedroom properties achieved the best average yields at 6.8% and 6.4% respectively. Regionally, yields were highest in Scotland at 6.6%
All sized properties saw an increase in average rents quarter-on-quarter apart from three bedroom homes which decreased 0.5%
Average quarterly rents across England, Scotland and Wales increased 2.7%
Rent arrears fall in all regions apart from Scotland where they increased 4.2%
Yields: Analysis from the UK’s largest lettings agency shows that yields remain strong in Q3 2013 with the average yield 6.1%. One and two bedroom properties are achieving the best yields at 6.8% and 6.4% respectively. Rental accommodation in Scotland is achieving the highest average yield at 6.6%, followed by the Midlands (6.5%) and Wales (6.4%).
Average quarterly rents: All sized properties saw an increase in average rents quarter-on-quarter apart from three-bedroom properties which decreased 0.5%. Four-plus bedroom homes saw the greatest increase in average rents up 3.6% in Q3 2013 compared to Q2 2013. Rents are likely to have been underpinned by an influx of families looking to move home before the new school term began in September and a lack of supply of larger properties on the market.
Average quarterly rents by region
Overall, average rents across England, Scotland and Wales increased 2.7% quarter-on-quarter. Wales saw the greatest increase in average rents up 5.6%, followed by the South West up 5.1% and the Midlands up 4.6%. Despite seeing an increase in average rents in Q3 2013, year-on-year Central London and the South East saw a reduction in rents of 3.3% and 1.5% respectively.
Rent arrears: Year-on-year rent arrears decreased in all regions apart from Scotland where they increased 4.2%. The greatest fall in rent arrears was in Central London down 2.1%. There was no change in the level of rent arrears in the East of England.