Landlords who have been watching with increasing nervousness the headlines proclaiming that rents are falling will be interested by the launch of a new website called the Rent Index. The Rent Index is the first real time measure of UK private sector rents. The Rent Index measures the level of UK residential rents in real time and uses data from actual rents unlike other sites which use a much less accurate headline rents or a landlords asking price.
The latest figures from the Rent Index show that the average rent in the UK was £584 per calender month. This shows that rents have actually risen by just over 3.5% over the year. Rents have dropped slightly over the last 6 month falling just over 2.5% but have recently stabilised showing a very small move upwards of just over 0.5% over the last month.
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