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Rent prices in Wales increase by 3.4%

Rent prices in Wales have continued to rise throughout the first half of 2016 according to the HomeLet Rental Index.

Renters in Wales are on average paying an extra £20 a month compared to 2015.

Compared to other parts of the UK, renters in Wales have seen a more modest increase. Average rent in the UK (excluding greater London) increased by £26 a month in the same period.

The June HomeLet Rental Index shows that the rental market remains resilient in the face of the various economic and political headwinds the sector has faced recently. Landlords are continuing to secure rental growth whilst there are some early signs of affordability criteria beginning to bear on the rates of rental price growth.

– Martin Totty, Barbon Insurance Group Chief Executive Officer


Welsh house prices rise by 3.3%

The average increase across the UK was 3.6%

The average house price in Wales has risen by 3.3% in the last year to £177,436.

Between April and May this year the price increased by around £3,000, a jump of 1.8%.

It follows a trend of rising house prices across the UK.

Greater London saw the biggest annual increase of 16.3%. The average cost of a house there now stands at £592,763.

Meanwhile, houses in the north of the UK saw an increase of just 0.1%, increasing by around £100.

The average increase across the UK was 3.6%.

The figures are based on the latest House Price Index.

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