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TODAY'S OTHER NEWS

UK rents on the rise but failing to keep pace with inflation

Average UK rents continued to rise in February, but failed to keep up with inflation, according to the latest HomeLet Rental Index. 

The average rent in the UK rose to £955 a month, 1.6% higher than in the corresponding month last year, but this is lower than the existing 12-month inflation rate, which currently stands at 1.8% in the Consumer Prices Index (CPI), according to the Office for National Statistics (ONS). 

In London, rents have risen by 3.2% over the past 12 months to £1,650 a month.

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When the capital is excluded, the average rent in the UK is now £791 a month, which is up 1.2% on last year. 

The region with the largest year-on-year increase is the North West, showing a 6.8% increase between February 2019 and February 2020. 

Region 

Feb-20 

Feb-19 

Annual Variation 

Jan-20 

Monthly Variation 

North West 

£755 

£707 

6.80% 

£764 

-1.20% 

Wales 

£650 

£616 

5.50% 

£650 

0.00% 

Northern Ireland 

£669 

£638 

4.90% 

£662 

1.10% 

East Midlands 

£651 

£625 

4.20% 

£656 

-0.80% 

Greater London 

£1,650 

£1,599 

3.20% 

£1,627 

1.40% 

Scotland 

£672 

£653 

2.90% 

£666 

0.90% 

West Midlands 

£708 

£694 

2.00% 

£699 

1.30% 

Yorkshire & Humberside 

£645 

£635 

1.60% 

£651 

-0.90% 

East Of England 

£916 

£915 

0.10% 

£907 

1.00% 

North East 

£517 

£524 

-1.30% 

£540 

-4.30% 

South West 

£849 

£868 

-2.20% 

£851 

-0.20% 

South East 

£1,018 

£1,046 

-2.70% 

£1,021 

-0.30% 

UK 

£955 

£940 

1.60% 

£953 

0.20% 

UK excluding Greater London 

£791 

£782 

1.20% 

£793 

-0.30% 

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