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TODAY'S OTHER NEWS

UK rental market looks more attractive for BTL landlords as rents rise further

Rents in the UK’s private rented sector continued to increase in September, the latest figures show. 

The data from HomeLet reveals that the average rent in the UK hit £697 per calendar month (pcm), up 2.2% on the same period last year. 

When London is excluded, the average rent in the UK is now £797pcm, up 2.2% on last year.

Average rents in London are now £1,694pcm, up by 3.3% on last year

All 12 of the 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%, 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% increase year-on-year.

Region

Sep-19

Sep-18

Annual Variation

Aug-19

Monthly Variation

North West

£739

£708

4.40%

£741

-0.30%

East Midlands

£653

£629

3.80%

£655

-0.30%

South West

£846

£818

3.40%

£852

-0.70%

Greater London

£1,694

£1,640

3.30%

£1,689

0.30%

North East

£535

£519

3.10%

£531

0.80%

West Midlands

£718

£701

2.40%

£720

-0.30%

Yorkshire & Humberside

£657

£644

2.00%

£655

0.30%

Wales

£634

£621

2.10%

£636

-0.30%

Scotland

£676

£663

2.00%

£671

0.70%

East of England

£927

£915

1.30%

£930

-0.30%

Northern Ireland

£673

£664

1.40%

£664

1.40%

South East

£1,045

£1,043

0.20%

£1,064

-1.80%

UK

£967

£943

2.50%

£970

-0.30%

UK excluding Greater London

£797

£780

2.20%

£802

-0.60%

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    What rubbish try telling that to residential permanent landlords in Blackpool like myself who haven't seen a rent rise in nearly 20 years. Still less than £90 for a 1 bed flat. Crazy. I presume as usual the academics who wrote the report only look inside cities.

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