Rent up by 2.4% Across the UK

Rent up by 2.4% Across the UK

HomeLet has released data that shows an increase of 2.4% in January 2018 in the private rent sector across the UK, compared to the same month last year. This means that the average monthly rent stands now at £909.

In London, rent has increased by 2.3% to £1,532 a month. However, if the capital would be excluded from the chart then the average UK rental value would be £760.

Other regions with an increased rent value are Northern Ireland, up by 3.7% to £624 and Scotland, up by 3.1% to £625. In Wales, the average monthly rent fell by 0.3% to £603 per month.

Nationwide, rent increased 0.2% month on month, with the breakdown of the figures showing they were up 1.8% in Scotland, 0.6% in Northern Ireland, 0.5% in London, and down 0.3% in Wales.

Around England, the annual rental growth was led by the East Midlands with a rise of 6% to £617, followed by the South West with 3.4% to £817, West Midlands up by 2.6% to £674, and the North East up by 2.3% to £537.

In Yorkshire and the Humber rent increased by 1.5% to £623, while in the East of England it went up by 1.5% to £906. The rent in the North West also increased, going up by 1.2% to £683, and up by 0.6% in the South East to £995.

Speaking on a monthly basis, rents fell in a number of English regions, including the North East down by 1.5%, the North West down by 0.4%, the East of England and Yorkshire and the Humber down by 0.2%, and West Midlands down by 0.1%.

In the capital the highest rent is £2,148 per month in Westminster, up 9.4% year on year, followed by £2,092 in Camden, up 7.4%, while the lowest monthly rent is £1,092 in Croydon, followed by 1,223 in Barking.


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