HomeLet Rental Index
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Costs set to rise for landlords
Average annual UK rental price inflation fell to 1.7 per cent in December, the latest HomeLet Rental Index reveals, down from 3.8 per cent in December 2015...
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UK rents continue to rise
Rents on new tenancies rose across most parts of the UK over the three months to February, led by gains in the capital, fresh figures show.
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UK rents increase
Rents on new tenancies rose across most parts of the UK over the three months to January, led by gains in the South East of England and the East Midlands, but growth continued to slow in the capital, new figures show. Fresh data from the latest HomeLet Rental Index reveals that rent prices for new tenancies in Greater London increased by 6.2 per cent in the three months to January 2016 compared to the corresponding period in 2015, marking the slowest rate of growth seen in Greater London since March 2014. “It’s notable that there has been a further fall in the rate at which average rents in the Greater London area are rising. In recent years, the capital has seen much faster rates of increase than the rest of the country, but it may be that an affordability ceiling has now been reached in London,” said Martin Totty (left), Barbon Insurance Group’s Chief Executive Officer. In contrast, rent prices in other regions continue to increase steadily with the South East of England and the East Midlands witnessing the highest rent price rises in the three months to January 2016, at 7.2 per cent and 6.8 per cent respectively. In…
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Housing Market
Average rents rise 8.5%
Private rents have continued to increase across the UK, albeit at a slower pace, hitting a new high of £995 per month in September, research shows. Following six months of annual rent price increases of 10 per cent plus the latest HomeLet rental index reveals that the average price paid in rent slowed to an average annual increase of 8.5 per cent across the UK in September. Strong demand from tenants and an undersupply of properties have continued to place upward pressure on rents, with nine of the 12 UK regions analyzed seeing rent prices increase on an annual basis in September, led by gains in Scotland at 8.4 per cent, followed by the East Midlands at 7.7 per cent and Greater London at 6.6 per cent. In contrast, rents fell by 4.6 per cent in the North West, were 2.2 per cent lower in East Anglia and dropped by 1.4 per cent in Northern Ireland. Martin Totty (left), Chief Executive Officer of Barbon Insurance Group, parent company of HomeLet, said, “Affordability is an important factor in determining rents. Depending on what happens with inflation and real incomes over the coming months, could have a bearing on future rental price…
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Rents rise across the UK
Rental prices are continuing to rise across all regions of the UK, the latest findings from the HomeLet Rental Index reveal. This is the second month in succession and only the fourth time in history of the Index – previously in October 2014 and once in December 2010 – that rent prices in every region of the UK have increased simultaneously. The HomeLet Rental Index figures for June 2015 show that rent prices across the majority of the UK are rising. The average rent price across the UK (excluding London) now stands at £747 per month for the three months to June 2015, an increase of 7.8 per cent against the same period last year, when the average UK rent, excluding London, was £692 per month. The highest rents continue to be recorded in the capital, where the average rent on a new tenancy now stands at a record high of £1,515 per month, up 10.1 per cent compared to a year ago. This rise is owed party to the fact that a growing number of tenants are moving into London, according to the report. Wakefield, Coventry, Brighton and Nottingham were also identified as ‘hotspots’ where tenants new to the…
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Rents rising nationwide
Rental prices are now increasing across all regions of the UK, new findings from the HomeLet Rental Index show. This is only the third time in the history of the Index –previously in October 2014 and once in December 2010 – that rent prices in every region of the UK have increased at the same time. The Index also reveals that the pace of growth in London has picked up again, after a period of slower growth, with average rents agreed on new tenancies in May 2015 exceeding £1,500 per month for the first time. Rents agreed on new tenancies across the UK in the three months to the end of May 2015 were 10.7 per cent higher than the same time last year, with the average now standing at £935 per month, or £738 excluding Greater London. The South West of England saw the largest increases, with average rent prices 13.6 per cent higher than a year ago. Scotland, (9.6 per cent), the South East of England (9.4 per cent) and Greater London (9.2 per cent) also advanced strongly. In Greater London, the average rent now stands at £1,472 for the three months to May 2015, however, when looking…
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