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TODAY'S OTHER NEWS

Average monthly rents remained broadly unchanged in Q1 2020

Average monthly rents across the country increased by just £2, or 0.26%, on Q4 2019 to hit an average of £775 during the first quarter of the year.

The data provided by The Deposit Protection Service (The DPS) shows that London unsurprisingly remained the most expensive place in the UK to rent, with monthly rents unchanged from Q4 2019 at £1,345, representing 42% of tenants’ average wages.

The figures cover the period immediately before the Covid-19 pandemic began to seriously disrupt life in England and Wales, and The DPS said that the next set of figures were likely to be affected by the UK’s government’s advice that people should not move house and other policies, such as the prevention of evictions.

Matt Trevett, managing director at The DPS, said: “Despite the stability of the rental market over the past 12-18 months, it is likely we will see a very different pattern in Q2 2020 owing to the impact of coronavirus on landlords, letting agents and tenants although it is difficult to predict the long-term effect this will have on the industry.

“For example, some landlords are asking for advice on how to make a claim against a deposit if a tenant leaves without giving notice or how to perform check-in and check-out reports during the lockdown. 

“Whether you are a tenant with sudden financial difficulties or a landlord facing changes to your income, we encourage you to communicate with one another as often as possible during this challenging time.”

Region

Average Rent Q1 2020

Change since Q4 (£)

% Change since Q4 2019

London

£1,345

£0

0.00%

South East

£895

£18

2.05%

South West

£753

£7

0.94%

East

£812

-£11

-1.34%

East Midlands

£586

£4

0.69%

West Midlands

£620

£9

1.47%

Yorkshire

£542

£18

3.44%

North West

£594

- £2

-0.34%

North East

£517

- £1

-0.19%

Scotland

£642

£30

4.90%

Wales

£583

- £6

-1.02%

NI

£521

-£27

-4.93%

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