Property News. From Moving In.

Most of UK sees rent rises of 2% to 5% in past year

The latest lettings market snapshot provided by HomeLet shows that the average rent across the UK as a whole is now £953, up by 2.3 per cent on the same time last year.

When London is excluded, the average rent in the UK is now £793; this is a 2.3 per cent increase on last year.

Meanwhile average rents in London are now £1,627; over the past 12 months they have risen by 2.5 per cent. 

Nine of the 12 regions monitored by HomeLet showed an increase in rental values between January 2019 and January 2020, with four of those regions seeing an increase of more than five per cent.

The region with the largest year-on-year increase is the North West, showing a 8.7 per cent rise. 

HomeLet’s figures are based on new tenancies.

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Original Source: Letting Agent Today.

Original Author: Graham Norwood.

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