One of the major lettings market indices has produced figures showing how much rents rose in 2021.
HomeLet says the average rent in the UK is now £1,060; this is up by 8.3 per cent on the same time last year.
When London is excluded the average rent in the UK is now £893, which is up by 6.6 per cent on last year.
Average rents in London by the end of 2021 were £1,752, an increase of 12.6 per cent on December 2020 – this was the largest regional increase, although there were rises in each region.
In December as a solo month, the South West saw the largest rise – up 2.0 per cent to £983 per calendar month.
Commenting on the latest data, Andy Halstead –  HomeLet  and Let Alliance chief executive officer – says: “2021 ended with an imbalance between supply and demand, and this is a trend that we are expecting to continue into 2022. This trend will almost certainly lead to a continuation of rental price growth as the year develops.
“We have again seen the government focus on the rental sector, with the Renter’s Reform Bill [expected soon] likely to abolish Section 21 – the clause which gives landlords the option to end ‘rolling’ tenancies with two months’ notice without giving a reason.
“We have repeateadly seen the government make things harder for landlords, who are already the cornerstone of the rental market upon which the UK relies so heavily. Increased legislation for landlords is putting the rental sector at risk, and the UK government must reconsider.
“As a final point, we have seen a rise in tenancy fraud in recent times. We’re seeing an increase in volume and sophistication, at a time when the risks and legislation landlords face are growing. To counter this, it is imperative that we see a higher quantity of professional letting agents.”
Final rental figures from the December 2021 HomeLet Rental Index:
Region | December-2021 | November-2021 | December-2020 | Monthly Var | Annual Var |
Greater London | £1,752 | £1,757 | £1,556 | -0.3 % | 12.6 % |
Northern Ireland | £724 | £737 | £651 | -1.8 % | 11.2 % |
North West | £844 | £835 | £772 | 1.1 % | 9.3 % |
Wales | £736 | £742 | £679 | -0.8 % | 8.4 % |
Yorkshire & Humberside | £737 | £736 | £682 | 0.1 % | 8.1 % |
North East | £580 | £575 | £539 | 0.9 % | 7.6 % |
Scotland | £738 | £740 | £687 | -0.3 % | 7.4 % |
West Midlands | £786 | £785 | £735 | 0.1 % | 6.9 % |
East Midlands | £742 | £729 | £694 | 1.8 % | 6.9 % |
South West | £983 | £964 | £924 | 2.0 % | 6.4 % |
East Of England | £1,031 | £1,030 | £983 | 0.1 % | 4.9 % |
South East | £1,123 | £1,129 | £1,085 | -0.5 % | 3.5 % |
UK | £1,060 | £1,058 | £979 | 0.2 % | 8.3 % |
UK excluding Greater London | £893 | £889 | £838 | 0.4 % | 6.6 % |
Renters Rights Bill – date set for next stage