X
X
Where did you hear about us?
The monthly magazine providing news analysis and professional research for the discerning private investor/landlord

UK rents further increase, with average monthly cost at £985

The HomeLet Rental Index figures for August 2020 have now been released.

The headlines from this month’s report are:

  • The average rent in the UK is now £985, up 2.1% on last month, and 1.5% on last year.
  • When London is excluded, the average rent in the UK is now £825. This is up 2.1% on last month, and 2.9% on last year.
  • Of the 12 regions monitored, 11 showed an increase in rental values between August 2019 and August 2020, with two of those regions seeing an increase of more than 5%.
  • The South West shows a yearly increase of 5.5% between August 2019 and August 2020.
  • Average rents in London are down YOY, showing a 2.1% fall between August 2019 and August 2020the fourth decrease in annual variance in subsequent months.
  • However, average rental value in London (£1,653) was still 100% higher than the rest of the UK excluding London (£825).

Commenting on this month’s data, Martin Totty, chief executive at HomeLet, said: “London may be experiencing a correction of sorts in supply versus demand and the sharp reversal of price growth from positive 4% pre-Covid to negative 2% now, represents a significant swing.”

<!--[if gte mso 9]><xml> </xml><![endif]--><!--[if gte mso 9]><xml> Normal 0 false false false EN-GB X-NONE X-NONE </xml><![endif]--><!--[if gte mso 9]><xml> </xml><![endif]--><!--[if gte mso 10]> <style> /* Style Definitions */ table.MsoNormalTable {mso-style-name:"Table Normal"; mso-tstyle-rowband-size:0; mso-tstyle-colband-size:0; mso-style-noshow:yes; mso-style-priority:99; mso-style-parent:""; mso-padding-alt:0cm 5.4pt 0cm 5.4pt; mso-para-margin-top:0cm; mso-para-margin-right:0cm; mso-para-margin-bottom:10.0pt; mso-para-margin-left:0cm; line-height:115%; mso-pagination:widow-orphan; font-size:11.0pt; font-family:"Calibri",sans-serif; mso-ascii-font-family:Calibri; mso-ascii-theme-font:minor-latin; mso-hansi-font-family:Calibri; mso-hansi-theme-font:minor-latin; mso-bidi-font-family:"Times New Roman"; mso-bidi-theme-font:minor-bidi; mso-fareast-language:EN-US;} </style> strong>UK rents further increase, with average monthly cost at £985

If you want to read more news subscribe

subscribe