UK rents fell in November, according to new figures in published by Landbay.
The data from the specialist buy to let lender, in the second edition of their National Rent Review, shows rents declined by 0.01%, with London being hardest hit.
The fall in rents has been small, but it comes at a time when pressure has been building steadily on landlords’ finances as the impact of Section 24 phasing out mortgage interest tax relief, the hike in Stamp Duty on second homes and the cap on tenants’ deposits take effect.
The slight fall in rents comes as yields also show signs of strain.
According to the Your Move Buy to Let Index, yields fell to 4.4% in October, down from 4.8% at the same time in 2016.
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