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Wednesday, Oct 21, 2020

UK rents rise everywhere barring London

UK rents rise everywhere barring London

The average rent in the UK is now £985, having risen by 2.1% on last month and 1.5% on last year, HomeLet’s rental index has found.
Rents rose annually to August in nearly every region, as they increased by 5.5% across the South West to £899.

However London rents fell by 2.1% year-on-year to £1,611.

Martin Totty, chief executive at HomeLet, said: “Throughout the ongoing Covid-19 pandemic, private landlords must feel that they alone are shouldering much of the burden to support those tenants who have been financially impacted.

“Property owners are having to dig deep to find the requisite reserves of resilience and resolve to ‘stay the course’.

“The situation has been exacerbated further by the last minute and very material amendments to government policy, when landlords have shown the flexibility demanded of them to help their tenants’ bridge their contractual obligations.”

On a monthly basis rents saw the biggest increase in the South East (3.5%), followed by London and the South West (both 2.6%).
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