Simple Landlords Insurance

Get a quote Retrieve quote call us 0808 172 5600

London rents hit all-time high

Thursday 09 August 2018

Rents in Greater London have passed the £1,600 per calendar month (pcm) mark for the very first time, the latest HomeLet Rental Index reveals.

Data shows that rents in the capital have increased by an average of 3.3 per cent year-on-year to hit an average of £1,615pcm.

Across the UK, the typical rental price in July stood at £937pcm, up 1.3 per cent on the same time last year.

When London is excluded, the average rent in the UK was £777pcm, which is 1 per cent above the level from the same period last year.

Northern Ireland showed the largest gains with a 4.5 per cent increase in average rental prices, while the South East was the region with the greatest month-on-month rise, with an average hike of 2.6 per cent between June and July 2018.

Rents increased in nine of the 12 areas of the country monitored by the HomeLet Rental Index between June and July 2018, with only Scotland, the North East and the East of England seeing a monthly decline.

Earlier this week data from the Landbay rental index shows the year on year, month on month, including and excluding London rent increases across the UK.

  • The emerging landlord

    It is a time of tremendous change for landlords in the UK.

    Visit microsite
  • Cover from as little as £114.50*

    Get a quote

Call 0808 172 5600

open weekdays 9am-8pm, Saturdays 9am-5pm, and Sundays 10am-4pm.

Get a quote
Filed Under:

Related news articles

Tenants faced highest rent rise in four years

Monday 01 October 2018

The proportion of tenants who faced rent hikes in August reached a four-year peak this summer, according to the Association of Residential Letting Agents (ARLA PropertyMark).