rental prices
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Rents rise at a slower pace
Rental prices continued to increase at double-figure rates on an annual basis, and are now 10.5 per cent higher than a year ago, led by gains in the South East of England and East Anglia, the latest findings from the HomeLet Rental Index show. The pace of rent rises slowed and in some regions retracted over the three months to August 2015, compared to the previous three-month period. Nevertheless, the average UK rent on new tenancies increased by 1.6 per cent in the three months to August 2015, compared to a rise of 2.2 per cent for the three months to July and June 2015. Overall rent price increases are still running ahead of inflation and house price growth, with the Index showing that average UK rents for new tenancies over the three months to August 2015 stood at £992 per month. The most expensive rents are to be found in London, where the average rent on a new tenancy reached £1,558 per month during the three months to August 2015, up from £1,538 per month in the three months to July 2015. On an annualised basis, only the North West of England reported lower rents for new tenancies in…
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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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