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Average UK rental price rises but London drags: Landbay

The average price paid for rent is rising across the UK, according to data collected by Landbay Rental Index.

In the year to March 2019, the average rental price throughout the UK, including London, rose 0.96 per cent.

However, without London included this figure stood at 1.16 per cent. London dragged down the average across the UK at a rise of 0.57 per cent in the 12 months to March.

Data from the report shows that the average monthly rental payments across the UK including London were £1,217. Excluding London, this figure stood at £772.

The largest risers on a yearly basis were in Edinburgh, where prices rose 5.97 per cent, followed by Nottingham at 4.28 per cent. The latter’s average rent as of March 2019 was £1,106, while the former’s was £695.

Meanwhile, the sharpest declines were in Aberdeen, falling 5.59 per cent in the year to March, and Aberdeenshire which dropped 4.31 per cent.

The latter’s average monthly rental repayments were £574, and the former’s, £1,380.

Landbay Rental Index chief executive and co-founder John Goodall comments: “Despite political and economic turmoil, the UK’s property market has remained resilient.

“Rents are growing at a steady pace, and that growth is not restricted to specific regions or rental brackets.

“Meanwhile, house prices in England fell for the first time in seven years in the first three months of 2019.

“This combination is good news for first-time buyers and landlords alike.”

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