Rent growth slows

Rents on new tenancies remained flat or dropped marginally over the three months to November in 10 out of the 12 UK regions compared to the three months to October, according to research from HomeLet. The latest index data shows that the average UK rent, excluding London, on a tenancy signed during the three months to November was £743 a month, down 0.7 per cent on the previous three month period. In Greater London the average rent was £1,544, down 1 per cent. Only two regions saw rents rise over the three months to November. In Yorkshire and Humberside, rents on new tenancies rose by 0.8 per cent to £626 a month, while in the East Midlands rents were 1.2 per cent up at £635 a month. The study by Homelet also revealed that 91 per cent of landlords do not plan to increase rents in the next six months, while over the next 12 months, just around a third of landlords are planning to increase the amount they charge on their homes. “The research reveals the vast majority of landlords enjoy strong relationships with their tenants and are keen to keep them,” said Martin Totty, Barbon Insurance Group’s Chief…

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