The average rent in the UK is now £940 per month, up 3.8 per cent on this time last year.
When London’s high rent average is excluded, the typical rent in the UK is now £782 0- that’s a 3.2 per cent increase on last year.
Meanwhile in London itself rents are now a monthly £1,599 on average - a 4.0 per cent rise on the figure this time in 2018.
These figures come from HomeLet, the country’s largest tenant referencing firm which also conducts a monthly market snapshot of the whole sector.
It says the region with the largest year-on-year increase is the South West, showing a 7.7 per cent increase between January 2018 and January 2019, the latest figures available.
All 12 of the regions monitored by HomeLet show an annual rise.
The regional picture is:
Scotland - average rent £653 pcm, up 3.3 per cent annually
Northern Ireland - £638, up 1.1 per cent
Yorkshire & Humberside - £635, up 1.6 per cent
North West - £707, up 2.8 per cent
East Midlands - £625, up 1.0 per cent
West Midlands - £694, up 2.7 per cent
East of England - £915, up 0.9 per cent
Wales - £616, up 3.9 per cent
Greater London - £1,599, up 4.0 per cent
South West - £868, up 7.7 per cent
South East - £1,046, up 5.1 per cent
The trends reported within the HomeLet Rental Index are brand new tenancies.
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I wonder why Rents are increasing ???
Could it be something to do with the extra Tax the Govt is taking out of the PRS, which has got to come from Landlords Income, -
What's Landlords Income - ? Oh, Rent you mean..
So all the extra costs that Govt have incurred on the PRS is causing Rent to rise ? - do you think ?
I wonder if Tenants can work this out .
Wait until the fee ban kicks in and landlord fees increase, tenant rent increases will follow. Well done Shelter!
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