Rental price inflation has slowed down, with HomeLet's latest data revealing that the average monthly rent in the UK now stands at £936, which is up 2% on the corresponding period last year.
The data, based on new lets agreed by landlords and agents using the firm’s referencing service, shows that rents are rising in line with inflation, which currently stands at 1.9%.
When London is excluded, growth, in percentage terms, was actually a lower rate of 1.8% year-on-year, with the average rent in the UK, without the capital, now stood at £775 per calendar month (pcm).
Unsurprisingly, rents in London remain the most expensive in the UK, at an average of £1,617pcm, which is up 1.8% on last year.
The region with the largest year-on-year increase is the South East, showing a 3.2% rise between March 2018 and March this year.
Rents in April increased in 11 of the 12 regions monitored by HomeLet.