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TODAY'S OTHER NEWS

Average rents up 1.9% year-on-year

Rents in Great Britain increased 1.9% year-on-year in March, driven by a 3.7% rise in Greater London where rents hit a record high, according to new figures from Hamptons International, part of Countrywide.

The data shows that the average cost of a new let in Great Britain rose to £969 per calendar month (pcm) in March as rental growth continues to rise, led by Greater London, where the average price of a home rose to £1,737pcm, the highest level on record. 

Meanwhile, Scotland was the only region where rents fell in March, down -0.1% year-on-year.

New lets (pcm)

 

Mar-19

Mar-18

YoY

Greater London

£1,737

£1,675

3.7%

    Inner London

£2,655

£2,592

2.4%

    Outer London

£1,563

£1,501

4.1%

South East

£1,028

£1,026

0.2%

South West

£795

£779

2.0%

East

£944

£936

0.8%

Midlands

£680

£668

1.8%

North

£630

£625

0.7%

Wales

£655

£650

0.8%

Scotland

£632

£633

-0.1%

Great Britain

£969

£950

1.9%

Source: Hamptons International

Aneisha Beveridge, head of research at Hamptons International, said: “Following a sluggish 2018 London rents reached a record high in March.

“The average cost of a new let in London rose to £1,737pcm in March, 2.3 times more than the average rent outside the capital.

“Meanwhile every region in Great Britain recorded rising rents last month other than Scotland.”

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    Watch them soar once S21abolished. After the new PRS legislation came in Scotland in December 2017 rents soared due to shortage of rental properties. Now the loony lefties are calling for rent caps instead of admitting the real reasons for such rent increases.

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    You have the loony left Nicola Sturgeon and we have the loony left Mark Drakeford.
    Devolution hasn't been the force for good that some anticipated, just more silly rules and regulations targeted specifically at Wales and Scotland.
    Unfortunately, I fear that there will be more to come.
    Our socialist utopias hate the thought of anyone making money and private landlords are first on the list when it comes to any type of negative reform.

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