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The average rent in the UK is now £967, up by 2.5% on the same time last year.

When London is excluded, the average rent in the UK is now £797, this is up by 2.2% on last year.

Average rents in London are now £1,694, up by 3.3% on last year.

Nationwide’s House Price Index reported that house prices rose by just 0.2% in September, down from 0.6% in August and marking the 10th month in a row that the annual house price growth was recorded as under 1%.

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

Five of the regions monitored by HomeLet showed an annual increase of over 3%, the North West, the East Midlands, the South West, Greater London and the North East.

The region with the largest year-on-year increase is the North West, showing a 4.4% increase between September 2018 and September 2019

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.

RegionSep-19Sep-18Annual VariationAug-19Monthly Variation
North West£739£7084.40%£741-0.30%
East Midlands£653£6293.80%£655-0.30%
South West£846£8183.40%£852-0.70%
Greater London£1,694£1,6403.30%£1,6890.30%
North East£535£5193.10%£5310.80%
West Midlands£718£7012.40%£720-0.30%
Yorkshire & Humberside£657£6442.00%£6550.30%
Wales£634£6212.10%£636-0.30%
Scotland£676£6632.00%£6710.70%
East of England£927£9151.30%£930-0.30%
Northern Ireland£673£6641.40%£6641.40%
South East£1,045£1,0430.20%£1,064-1.80%
UK£967£9432.50%£970-0.30%
UK excluding Greater London£797£7802.20%£802-0.60%

Source: Property118

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