Annual rental growth across remained in double-digits during September, with the average cost of a new let up 11.7 per cent on the same period 12 months ago.
This figure - from lettings agency Hamptons - is the second fastest increase the agency has seen, surpassed only by August’s figure of 12.0 per cent.
The average rent in Great Britain now stands at £1,325 pcm, up from £1,186 in September 2022.
Rents are rising faster in London than anywhere else. The average cost of renting a property in the capital was £322 pcm or 15.7 per cent more expensive than it was at the same time last year.
Both Inner and Outer London recorded double-digit rental growth, but rents in Outer London (up 16.2 per cent) rose faster than anywhere else in the country. The average Outer London rent last month (£2,241 pcm) was higher than the average Inner London rent two years ago in September 2021 (£2,186 pcm).
Nationally, rents are rising at a double-digit pace in most regions. However, the rate of growth slowed slightly from last month, with rental growth in the fastest-rising regions dipping. Southern England and Scotland bucked this trend, with rental growth continuing to accelerate from an already high level.
|
Average monthly rent |
YoY % |
YoY £ |
|
|
Greater London |
£2,376 |
15.7% |
£322 |
|
Inner London |
£3,087 |
12.1% |
£332 |
|
Outer London |
£2,241 |
16.2% |
£313 |
|
East of England |
£1,247 |
11.3% |
£126 |
|
South East |
£1,354 |
9.5% |
£117 |
|
South West |
£1,171 |
7.6% |
£83 |
|
Midlands |
£935 |
10.6% |
£90 |
|
North |
£889 |
8.7% |
£71 |
|
Wales |
£791 |
5.2% |
£39 |
|
Scotland |
£950 |
14.9% |
£123 |
|
Great Britain |
£1,325 |
11.7% |
£139 |
|
Great Britain (Excluding London) |
£1,055 |
9.3% |
£89 |
Source: Hamptons
London rents have started to fall again - just as every...
The rate of rental growth accelerated sharply in December according to...
The average rent of a newly let property in Great Britain...
Private tenants in Britain in 2018 paid £59.1 billion on rent...
The predictions game can be tricky. Sometimes you just don’t know...
Leading UK property auctioneer Bond Wolfe has broken through the £100...
Uncertainty triggered by the new Labour Government and taxation concerns that...
B-hive Block Management Partners Celebrates Major Milestone With Over 100 Businesses...
We’re absolutely delighted to announce that, after 10 years, we’re able...
You don’t have to simply accept things as they are when...
%20-%20IMAGE%20Client%20Accounting%20%E2%80%93%20what%20are%20your%20options.jpg)
The benefits for letting agents to outsource their client accounting is...
Who are you and what does it say on...
Who are you and what does it say on...
Who are you and what does it say on...
Join the conversation
Be the first to comment (please use the comment box below)
Please login to comment