Latest KF Prime London Rental Index

Our Prime Central and Outer #London Rental Indices track the performance of London's #prime #rental markets. We've found that the number of #tenancies agreed by #KnightFrank in London increased by 34% in the year to August. Read more here: https://t.co/sEnlzb2YVf pic.twitter.com/4yE8zWycQ7

— Knight Frank (@knightfrank) October 24, 2019

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Areas with 38% rental growth over 5 years

The areas where rental growth has hit tenants by as much as 38% in the last 5 years - View Article - https://t.co/Vtb16gvqeN pic.twitter.com/x8QSKeUzqp

— Estate Agent Networking (@EAUKNetworking) September 30, 2019

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Latest DPS Rental Index

The UK experienced a sharp increase in average rent from £757 to £771 (1.79%) during the second quarter of 2019 according to the latest edition of The Deposit Protection Service (The DPS) Rent Index. 

According to the report the increase between April and June is the first significant uplift in rents since the average monthly UK rental price began to decline in the last quarter of 2017.

Daren King, Head of Tenancy Deposit Protection at The DPS, said: 

“The increase in rents during the second quarter of 2019 is striking, after a prolonged period of stagnation in the market.

Many commentators predicted that the tenancy fees ban would drive up rents as letting agents and landlords looked to alternative sources to cover costs but, with the ban coming in late in this quarter, it’s too early to say whether it is behind the hike.

Given the economic factors that were behind the drop in rent prices remain relatively unchanged, it will be interesting to see if the upward trend increases between July and September.”

The DPS report also showed that average monthly rents increased by £7 (0.87%) from £764 year on year.

London saw its first increase in average rent since the last quarter of 2017, from £1,288 in Q1 2019, to £1,319 in Q2 2019 (2.42%).

Outside of London, average monthly rent now stands at £673, an increase of £10 (1.5%) on last quarter, and a marginal increase of £2 (0.25%) compared with the same quarter last year.

While all property types experienced a rise in average rent across the UK, the largest increase was seen for terraced properties, rising from £699 to £731 (4.59%).

On average, the report found that UK renters are spending 32% of their wages on rent.

The full report is available here.

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Homelet's latest Rental Index

What are rents doing in your region? Latest HomeLet Rental Index shows the average UK rent is now £940 - up 3.8% on the same time last year. See full #HRI here: https://t.co/YFHS8jD0EA pic.twitter.com/Qa0EomxVaD

— HomeLet (@HomeLet) March 11, 2019

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UK rental growth outstripping inflation

The headlines from Homelet's Rental Index for February are:

• The average rent in the UK is now £940, up by 3.8% on the same time last year
• When London is excluded, the average rent in the UK is now £782, this is up by 3.2% on last year
• Average rents in London are now £1,599, up by 4% on last year
• The region with the largest year-on-year increase is the South West, showing a 7.7% increase between January 2018 and January 2019
• All 12 of the regions monitored by HomeLet showed an increase in rental values between January 2018 and January 2019

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.
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