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Monday, June 15, 2015

Homelet Rent Index for May 2015

According to Homelets Rent Index for May 2015, rents increased in all UK regions in the three month to May.

The average UK rent is £935 a month, or when London rents are excluded, £738.

Rents are 10.7% up on this same three month period back 2014.

The South West performed strongest, rents up 13.6% in a year, Scotland saw a 9.6% rise, the South East 9.4% and Greater London 9.2%.

Martin Totty from HomeLet commented :

‘Rental values are now increasing year on year across the country, with no exception. After a short period of London rents rising more slowly, when it seemed the rest of the UK may catch up or even exceed the capital in the speed at which rent prices were increasing, we now see the rate of price rises in London returning towards double digit growth, while the rest of the UK continues to rise steadily,’ 

‘With the whole of the UK experiencing increases in rent prices agreed on new tenancies, it is possible this is an early indicator of a post-election private rental market where both landlords and tenants might expect rent prices to keep rising as demand continues to grow,’ 
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