London buy to let rents 78% higher than rest of UK

London buy to let rents 78% higher than rest of UK

16:50 PM, 21st May 2012, About 12 years ago

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London rents are 78% higher than those in the rest of the country, according to the latest figures from landlord insurer Homelet.

The firm’s monthly index of private rents revealed the UK has two separate rental markets – London and the rest.

While average rents outside the capital have remained the same year-on-year, those in London surged by 8%.

The average UK buy to let rent in April was £768 a month – a marginal increase of 1% March and 3% higher than a year earlier.

The stripped-out figures highlight the real buy to let rental picture across the country:

  • Rents in Greater London average £1,177 per month – 7.9% higher than average rents in April 2011
  • Rents outside Greater London averaged £660 in April – the same as April 2011

Ian Fraser, HomeLet managing director, said: “The continued growth in Greater London rental prices is inflating the average rental figure for the UK. When Greater London is excluded from the data, the average UK rent was actually the same in April as it was last year.

“Several regions of the UK have seen little growth in rental prices since last year, and in some regions rents are considerably cheaper than 12 months ago.”

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