Rents in the UK’s private rented sector increased further in October, according to the latest data.
The figures from HomeLet show that the average rent in the UK reached £953 per calendar month (pcm) in October, up 2.7% year-on-year.
When London is excluded, the average rent in the UK is now £788pcm, up 2.6% on last year.
Average rents in London are now £1,665pcm, which is an increase of 2.8% on last year.
All 12 of the regions monitored by HomeLet showed an increase in rental values between October 2018 and the corresponding month this year.
Five of the regions monitored by HomeLet showed an annual increase of over 3% – the North East, North West, Yorkshire and Humberside, the South West and Scotland.
The region with the largest year-on-year increase was the North East, showing a 4.5% increase year-on-year.
|
Region |
Oct-19 |
Oct-18 |
Annual Variation |
Sep-19 |
Monthly Variation |
|
North East |
£538 |
£515 |
4.5% |
£535 |
0.6% |
|
North West |
£727 |
£697 |
4.3% |
£739 |
-1.6% |
|
Scotland |
£674 |
£647 |
4.2% |
£676 |
-0.3% |
|
Yorkshire & Humberside |
£653 |
£631 |
3.5% |
£657 |
-0.6% |
|
South West |
£840 |
£811 |
3.6% |
£846 |
-0.7% |
|
Northern Ireland |
£672 |
£653 |
2.9% |
£673 |
-0.1% |
|
Greater London |
£1,665 |
£1,619 |
2.8% |
£1,694 |
-1.7% |
|
East Midlands |
£642 |
£628 |
2.2% |
£653 |
-1.7% |
|
West Midlands |
£706 |
£693 |
1.9% |
£718 |
-1.7% |
|
East of England |
£924 |
£908 |
1.8% |
£927 |
-0.3% |
|
Wales |
£623 |
£614 |
1.5% |
£634 |
-1.7% |
|
South East |
£1,020 |
£1,010 |
1.0% |
£1,045 |
-2.4% |
|
UK |
£953 |
£928 |
2.7% |
£967 |
-1.4% |
|
UK excluding Greater London |
£788 |
£768 |
2.6% |
£797 |
-1.1% |
