According to HomeLet Rental Index’s latest report, UK rental prices are continuing to rise in 11 out of 12 UK regions, with only north-west showing a decline in rental prices of 6.2%. As of January 2016, the average price of a rented property outside London stood at £740 pcm, whereas in the capital prices were double, averaging £1,510 pcm, putting overall UK rental property prices up 5.5% YoY, with London posting annual growth of 3.6%, reflecting the slow but steady maturing of the capital’s rental market due to sustained demand. The continuing short supply and high demand for housing, and improved levels of employment and salaries, are expected to keep the UK rental market strong throughout 2016.
According to HomeLet Rental Index’s latest report, UK rental prices are continuing to rise in 11 out of 12 UK regions, with only north-west showing a decline in rental prices of 3.6%. As of January 2016, the average price of a rented property outside London stood at £740 pcm, whereas in the capital prices were double, averaging £1,510 pcm, putting overall UK rental property prices up 5.5% YoY, with London posting annual growth of 6.2%, reflecting the slow but steady maturing of the capital’s rental market due to sustained demand. The continuing short supply and high demand for housing, and improved levels of employment and salaries, are expected to keep the UK rental market strong throughout 2016.