The latest HomeLet rental index shows that UK average rental prices are continuing to rise.
The headlines from this month’s report are that the average rent in the UK is now £1,184 per calendar month, increasing 0.8 percent from last month’s average of £1,175 pcm.
When London is excluded, the average rent in the UK is £993 pcm, up 1.0 percent from the previous month. The Northeast saw the largest monthly variance, experiencing a 1.6 percent increase from last month, with average rents rising to £639 pcm.
Average London rental prices are now at £1,979 pcm, some 0.2 percent above the previous month.
Commenting on the latest data, Andy Halstead - HomeLet & Let Alliance chief executive - says: “With every region of the country reporting a month-on-month rental price rise, it’s fair to say that demand for rental properties remains exceptionally high.”
“The lack of available properties means that the market is likely to continue to be very competitive, so landlords must remain vigilant, and tenants should be aware that finding a suitable property is proving to be a tricky task for many.”