“The capital might still hold its title as the most expensive rental region across England and Wales—prices average £1,271 (US$1,652) per month—but price growth went negative in the year to June, as values dipped 0.5%.
The South West of England was home to the fastest rising rents in the same time frame, the report said. Prices in this region—which includes rural areas of Cornwall and Devon, along with cities like Bristol, Plymouth and Exeter—rose by 3.4%, bringing the average rental price to £686 (US$891).
“Plymouth is a particular hotspot,” said Martyn Alderton, national lettings director at Your Move, in the report. “As well as stunning countryside and lower cost of living, current multi-million pound developments are creating employment opportunities. …”