HomeLet report rental increase of 3.2% in the last year

by Property 118

8:50 AM, 17th December 2019
About 10 months ago

HomeLet report rental increase of 3.2% in the last year

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HomeLet report rental increase of 3.2% in the last year

HomeLet’s rental index figures for November 2019 have been released with rents showing consistent average growth of over 3% in the last year. The headlines from the report are:

– The average rent in the UK is now £947, up by 3.2% on the same time last year

– When London is excluded, the average rent in the UK is now £784, this is up by 3.2% on last year

– Average rents in London are now £1,665, up by 3.2% on last year

– All 12 of the regions monitored by HomeLet showed an increase in rental values between November 2018 and November 2019

– All of the regions monitored by HomeLet saw a slight decrease from October 2019, with the exception of Wales and the North East which saw an increase of 1.1% and 0.4% respectively, and the East Midlands which remains unchanged

– The region with the largest year-on-year increase is Wales, showing a 5.2% increase between November 2018 and November 2019

Region Nov-19 Nov-18 Annual Variation Oct-19 Monthly Variation
Wales £630 £599 5.2% £623 1.1%
Yorkshire & Humberside £652 £623 4.7% £653 -0.2%
Northern Ireland £667 £639 4.4% £672 -0.7%
Scotland £664 £635 4.6% £674 -1.5%
North East £540 £517 4.4% £538 0.4%
North West £721 £694 3.9% £727 -0.8%
Greater London £1,648 £1,597 3.2% £1,665 -1.0%
East Midlands £642 £625 2.7% £642 0.0%
South East £1,013 £989 2.4% £1,020 -0.7%
South West £838 £819 2.3% £840 -0.2%
East of England £917 £898 2.1% £924 -0.8%
West Midlands £701 £688 1.9% £706 -0.7%
UK £947 £918 3.2% £953 -0.6%
UK excluding Greater London £784 £760 3.2% £788 -0.5%

As the UK’s largest tenant referencing firm, HomeLet references over 500,000 tenants every year. The HomeLet Rental Index provides the most comprehensive and up-to-date data on rental values in the UK.

The trends reported within the HomeLet Rental Index are brand new tenancies, which were arranged in the most recent period, providing an in-depth insight into the lettings market.

Head to https://homelet.co.uk/homelet-rental-index/ for more information.


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