Ave rents nearly £1000 per month

The latest HomeLet market index shows that the average rent in the UK is now at a record high of £996 per month.

It’s the fifth month in a row that the average rent has risen.

Even when high-priced London is excluded the average rent in the UK is now £853, showing an increase of 0.7 per cent on last month, and an increase of 6.2 per cent on last year.

Nine of the 12 regions monitored by HomeLet showed a month-on-month increase between March and April 2021, with the North East seeing the largest increase of 2.4 per cent. 

Eleven of the 12 regions monitored by HomeLet showed a year-on-year increase with the South West seeing the largest increase at 8.6 per cent.

However, rents in London continue to fall, showing a 5.3 per cent annual drop – it’s the 11th month in a row that the annual figure has fallen.

Commenting on the latest data, Andy Halstead – HomeLet & Let Alliance chief exec – says:  ”We’re continuing to see a sustained demand for let property; against a backdrop of reduced stock, with landlords facing increased costs and growing concerns about legislative changes.  

“As we gradually ease from protective measures, the stark reality is that we’re fast approaching a summer where rental prices could accelerate at a rate never seen before.”

Written by: Houseladder