--- title: "Breaking Records: UK Rents Soar to New Heights After 13 Quarters of Growth" description: Witness the remarkable ascent of UK rental prices as they reach an all-time high. Explore the factors contributing to this continuous rent growth. image: https://blog.magnateassets.com/hubfs/UK%20Rents%20Reach%20a%20New%20Record%20High%20After%2013%20Quarters%20of%20Consecutive%20of%20Rent%20Growth.jpg --- [![logo](https://blog.magnateassets.com/hs-fs/hubfs/logo.png?width=216&height=50&name=logo.png "logo")](https://magnateassets.com/) × - [Properties](https://www.magnateassets.com/en/searchresult) - [Off-Plan](https://www.magnateassets.com/en/searchresult?proType=Off-Plan) - [Completed](https://www.magnateassets.com/en/searchresult?proType=Completed) - [High Yield Investing](https://www.magnateassets.com/en/high-yield-investing) - [HMO (Houses in Multiple Occupation)](https://www.magnateassets.com/en/property-hmo) - [Student Accommodations](https://www.magnateassets.com/en/property-student-accommodations) - [Property Sourcing](https://www.magnateassets.com/en/property-sourcing) - [Property Concierge](https://www.magnateassets.com/en/property-concierge) - [Land Options](https://www.magnateassets.com/en/searchresult?proFor=Local&proType=Land%20Options&country=UK) - [Property Bonds (Promissory Notes)](https://www.magnateassets.com/en/property-bonds) - [Buildings](https://www.magnateassets.com/en/searchresult?proType=Buildings) - [Build-to-Rent Projects](https://www.magnateassets.com/en/build-to-rent-projects) - [Equity Investments](https://www.magnateassets.com/en/equity-investments) - [Funding Partnerships](https://www.magnateassets.com/en/funding-partnerships) - [Locations](https://magnateassets.com/en/location) - Resources - [Blog](https://blog.magnateassets.com) - [Podcast/Webinars](https://www.magnateassets.com/en/video-gallery) - [Guides](https://info.magnateassets.com/guides) - Finance, Tax & Legal - [Mortgage Calculator](https://magnateassets.com/en/mortgage-calculator) - [Mortgages & Finance](https://www.magnateassets.com/en/mortgages-and-finance) - [Property Transfer & Legal](https://www.magnateassets.com/en/property-transfer-and-legal) - [Tax Planning and Set up](https://www.magnateassets.com/en/tax-planning-and-set-up) - [UK Immigration Information](https://www.magnateassets.com/en/uk-immigration-information) - [Managing Your Properties](https://www.magnateassets.com/en/managing-your-properties) - [Furniture Packs](https://www.magnateassets.com/en/furniture-packs) - About Us - [Meet the Team](https://www.magnateassets.com/en/meet-the-team) - [Contact Us](https://magnateassets.com/en/contact-us) - [UK Property Investment](https://www.magnateassets.com/en/for-uk-property-investment) - [Developer Partnerships](https://www.magnateassets.com/en/developer-partnerships) # UK Rents Reach a New Record High After 13 Quarters of Consecutive Rental Growth Published by Keith Egan on Apr 28, 2023 According to the latest data from Rightmove, the average asking rents for new tenants outside of London have reached a new record of £1,190 per calendar month. While this is an increase, the pace of rent growth is showing signs of slowing down, which is a positive development. In London, the average asking rents have surpassed £2,500 for the first time, which indicates a constrained supply in the capital. However, there are encouraging signs of improvement this year, as the number of available rental properties has increased by 8% over the first three months of the year. Although the rental market supply is still historically low, the number of available properties has risen by 6% compared to last year. The demand for rental properties remains high, but it is encouraging to see that the gap between supply and demand is starting to narrow down, albeit slowly. Tim Bannister, from Rightmove, said that the rental market is highly competitive for tenants trying to secure a home, but homes in popular areas within an affordable asking rent range are likely to be snapped up almost immediately. While there is no significant influx of new properties becoming available to rent currently on the horizon, the slow signs of improvement are positive news for both landlords and tenants. Topics: [Insider](https://blog.magnateassets.com/tag/insider), [UK Property](https://blog.magnateassets.com/tag/uk-property), [Real Estate Market](https://blog.magnateassets.com/tag/real-estate-market), [Market Trends](https://blog.magnateassets.com/tag/market-trends), [Rents](https://blog.magnateassets.com/tag/rents) ![Keith Egan](https://blog.magnateassets.com/hubfs/image.png) Written by [Connect on LinkedIn ↗](https://www.linkedin.com/in/keith-egan-a4585613a/) [Keith Egan](https://blog.magnateassets.com/author/keith-egan) Keith Egan has spent 30+ years in senior real estate roles across the UK, Dubai and the MENA region. As Director and Co-Founder of Magnate Group, he leads Magnate Assets focused on UK residential investment, lead generation and digital marketing and the Magnate Investments Division, Magnate's development finance and structured investment arm. Keith specialises in connecting landowners, developers and investors with regulated, technology-driven funding structures and fractional ownership solutions, bridging institutional-grade UK real estate with a wider pool of domestic and international capital. - #### Share: - [![](https://f.hubspotusercontent10.net/hubfs/445465/icon/facebook.svg)](http://www.facebook.com/share.php?u=https://blog.magnateassets.com/uk-rents-reach-a-new-record-high-after-13-quarters-of-consecutive-of-rent-growth) - [![](https://f.hubspotusercontent10.net/hubfs/445465/icon/twitter-sign.svg)](https://twitter.com/share?text=UK%20Rents%20Reach%20a%20New%20Record%20High%20After%2013%20Quarters%20of%20Consecutive%20Rental%20Growth&url=https://blog.magnateassets.com/uk-rents-reach-a-new-record-high-after-13-quarters-of-consecutive-of-rent-growth&hashtags=weareawesome&via=bluleadz) - [![](https://f.hubspotusercontent10.net/hubfs/445465/icon/linkedin.svg)](http://www.linkedin.com/shareArticle?mini=true&url=https://blog.magnateassets.com/uk-rents-reach-a-new-record-high-after-13-quarters-of-consecutive-of-rent-growth) [Back to Blog](https://blog.magnateassets.com) ### Popular Blogs \[Insider, UK Property, Real Estate Market, Market Trends, Rents\] - 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