Both annual and quarterly rental yields rose from 6% a year ago and 6.4% in the last quarter of 2022 to 6.5% now, according to buy-to-let specialist lender Fleet Mortgages.
The lender released its latest Buy-to-Let Rental Barometer covering Q1 2023 rental yields across England and Wales.
Fleet said increased yields – the highest on record since its Rental Barometer was first published – reflected both rental stock continuing to be in short supply, very high tenant demand, and house price levels easing over the last six months particularly.