The monthly magazine providing news analysis and professional research for the discerning private investor/landlord

Scotland and Wales saw higher rent growth than rest of UK in 2018

The average rent for a property in the UK increased by just 0.96% in 2018 but the lettings markets in Scotland and Wales are stronger, the latest index report shows.

Rents increased by 0.91% in England but this was surpassed by annual growth of 1.57% in Wales, by 1.48% in Scotland and by 0.75% in Northern Ireland, according to the Landbay rental index.

Rents in the UK, excluding London, increased by 1.16%, while in England, excluding London they increased by 1.11%. However, London rents increased by just 0.58% in 2018 to an average of £1,898 per month. A regional breakdown shows that rents increased by 2.19% in the East Midlands, by 1.48% in the West Midlands and by 1.4% in Yorkshire and Humberside.

This takes the average rent in the UK to £1,213 per month in the UK, or £770 excluding London. In England, average rents are £1,244, but excluding London just £775. In Scotland average monthly rents are £743, in Wales £656 and in Northern Ireland £574.

If you want to read more news subscribe