View more on these topics

Pace of rental growth slows in October

House-For-Rent-Home-700.jpg

The pace of rental growth in the UK slowed to 0.05 per cent in the month to October from a rise of 0.09 per cent the previous month, the Landbay Rental Index found.

The Index revealed that London was split in rental costs, with four boroughs (Westminister, Kensington and Chelsea, Richmond and Camden) featuring the UK’s bottom ten ‘rental fallers’ and seven boroughs experiencing rental growth. Bexley and Dagenham both saw rent rises of more than 3 per cent.

Hotspots for rental growth over the last 12 months include Luton (7.11 per cent), Edinburgh City (5.63 per cent) and Northamptonshire (5.59 per cent), with nine of the top ten ‘rental risers’ situated in England.

Landbay chief executive John Goodall says: “Rental growth is slowing across the UK, but the pace of change varies wildly between regions. Falling rents in some of the most expensive parts of the country, especially prime London locations, can distort the picture for the rest of England and the UK where rents are continuing to grow at a steady pace. In the last month alone, rents fell by -0.11% in London, while they continued an upward climb of 0.15 per cent in the rest of England.

“Any moderation in rental price inflation will always be welcomed by generation rent, the swelling population of aspiring homeowners and long term tenants. As this month’s Autumn Statement comes over the horizon, all eyes will be on how the UK’s chronic housing shortage will be addressed. Unless supply catches up with demand, there’s nothing to suggest overall rents will go in any direction other than up.”

The average UK rent is now £1,188, with London’s average at £1,889, and the rest of the UK being £748 per month.

Recommended

House-For-Rent-Home-700.jpg

Rents climb by 8.7% in the year to August

The average rent across England and Wales rose 8.7 per cent year-on-year to £887 per month in August, buoyed by students checking in to new flats ahead of the academic year. The figures from Your Move, the estate agency, also revealed that London rents reached a new high of £1,391, a 6.9 per cent increase […]

Rental costs for one-beds on the rise

The average rent for a one-bed property in the UK increased by 1.57 per cent year-on-year, the latest Landbay Rental Index shows. One-bed rents grew by 0.12 per cent in September, accelerating from 0.09% per cent the month before, according to Landbay. Rents for two and three-bed properties also grew in September, but at slower […]

House-For-Rent-Home-700.jpg

Rents in Scotland up nearly 5 per cent in year to July

The rental market in Scotland remained strong in a post-Brexit referendum economy, with prices rising 4.6 per cent in the year to July, according to the latest Your Move buy-to-let index. The data found that the average rent paid in Scotland was £574 in July 2016, compared to £549 in the same month last year, […]

Life begins at…

By Fiona Holmes, proposition communications manager Having reached a certain age (it’s the new 40 by the way), I’m having to come to terms with the fact that my peers and I aren’t as immune from illness or death as we’d like to think. That’s the problem with 30 being the new 20 and 40 […]

Newsletter

News and expert analysis straight to your inbox

Sign up