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TODAY'S OTHER NEWS

UK rents on the rise but growth begins to slow, figures show

The average rent in the UK now sits at £934, a 1.6% rise on the same time last year, according to HomeLet’s Rental Index figures for May 2019.

Excluding London, the average rent in the UK is currently £776 – this is up by 1.7% on last year. Average rents in the capital are now £1,602, up 1.0% since May 2018.

The region with the largest year-on-year increase is Northern Ireland, showing a 4.9% increase between May 2018 and May 2019.

Of the 12 regions monitored by HomeLet, all except Yorkshire and Humberside and the North East showed an increase in rental values during the same period.

Referencing over 500,000 tenants every year, HomeLet’s renal index provides comprehensive and up-to-date statistics on rental values in the UK.

The table below shows a regional breakdown of the latest average rental values in the UK.

Region

Apr-2019

Mar-2019

Apr-2018

Annual

Variation

South East

£1,031

£1,047

£999

3.2%

West Midlands

£699

£701

£679

2.9%

East Midlands

£635

£632

£619

2.6%

Wales 

£610

£612

£597

2.2%

South West

£825

£845

£808

2.1%

North West

£705

£712

£692

1.9%

Greater London

£1,617

£1,613

£1,588

1.8%

Northern Ireland

£639

£633

£628

1.8%

Scotland

£639

£633

£628

1.5%

East of England

£914

£669

£907

0.8%

Yorkshire & Humberside

£628

£918

£625

0.5%

North East

£517

£633

£523

-1.1%

UK Average 

£936

£942

£918

2.0%

UK

(excluding Greater

London)

£775

£782

£761

1.8%

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