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Millennials make up half of new buy-to-let investors in England and Wales, new research show s. Across Britain, the average rent for a newly-let home fell by 0.3% over the year to September – down £4 per month from £1,402 to £1,398, Hamptons said.

For the first time, millennials made up 50% of all new shareholders in buy-to-let companies set up so far this year. Five years ago, they made up 40% of buy-to-let shareholders.

It said the fall marks a “notable shift” from annual growth of 4.2% recorded a year earlier. London drove the slowdown, with rents falling by 2.7% annually or £65 per month.

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By contrast, average rents across Britain for renewed contracts increased by 4.6% over the previous 12 mo

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