The rental market stabilised in April following successive periods of growth across the country, according to Move with Us. The average advertised rent in Britain stood at £994 per month at the end of the month. This is not necessarily an indication of a weakening market but more likely a tempering of the growing rents of the last 12 months. 

Scotland, the South East and the West Midlands were the only three regions that experienced an increase in average asking rents. This was welcome news for landlords. Countering this growth, rental prices stabilised in most regions in April, however the market was up £27 (2.81%) in a yearly comparison.

The strongest performing region in April was the South East. Rents increased by £19, equivalent to 1.71% and the 12 month comparison shows the market’s average advertised rent outstripped last year’s by £79 (7.13%). The average asking rent has grown since the start of the year, following a relatively steady 2013. The average rent in the region peaked at £1,191 per month, the highest advertised rent recorded since the inception of the Rental Index. This reinforces its position as the most prominent market outside of the Capital.

Robin King, director at Move with Us, said: “The South East is the only market with growth of any note in April. Landlords in this region have seen a strong start to the year. It’s likely the already buoyant market is benefitting from the rising number of commuters moving to more affordable areas surrounding Greater London.”