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UK rents up 1.6% in a year, says HomeLet

The average cost of renting a property in the UK increased by 1.6% in the 12 months to May, according to the latest figures.  

The HomeLet Index, which is based on new lets agreed by landlords and agents using its referencing service, shows that the average rent in the UK is now £934 per calendar month (pcm).

When London is excluded, growth, in percentage terms, was actually a slightly higher rate of 1.7% year-on-year, with the average rent in the UK, without the capital, hitting £776pcm.


Unsurprisingly, average rents in London remain the most expensive in the UK, at an average of £1,602pcm, which is up 1% on last year.

According to the data, the region with the largest year-on-year increase is Northern Ireland, showing a 4.9% increase between May 2018 and May of this year.

Rents in May increased in 10 of the 12 regions monitored by HomeLet, with just Yorkshire and Humberside and the North East seeing a decrease in rental values.

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