Continued UK rent increases make buy-to-let an attractive proposition
Rents in the UK’s private rented sector continued to increase in September, the latest figures show.
Data from HomeLet reveals that the average rent in the UK hit £697 per calendar month (pcm), up 2.2 per cent on the same period last year.
When London is excluded, the average rent in the UK is now £797pcm, up 2.2 per cent on last year.
Average rents in London are now £1,694pcm, up by 3.3 per cent on last year.
All 12 regions monitored by HomeLet showed an increase in rental values between September 2018 and August 2019.
Five of the regions monitored by HomeLet showed an annual increase of over 3 per cent: the North West, the East Midlands, the South West, Greater London and the North East.
The region with the largest year-on-year increase was the North West, showing a 4.4 per cent increase year-on-year.
The East Midlands saw a 3.80 per cent increase, and was followed by the South West (3.40 per cent), Greater London (3.30 per cent), the North East (3.10 per cent), West Midlands (2.40 per cent), Yorkshire & Humberside (2.00 per cent), Wales (2.10 per cent), Scotland (2.00 per cent), the East of England (1.30 per cent), Northern Ireland (1.40 per cent), and the South East (0.20 per cent).