6th
May 2016
A major UK tenant referencing and specialist lettings insurance company’s monthly private rented sector check, reports that rents are still increasing across the whole of Britain.
It reports that rents outside of the capital for new tenancies which had started in February through to and including April, on average were 5.1% better than in the same period of last year. This was marginally better for those new tenancies that had started in January up to and including March this year which was recorded at 4.9%.
Meanwhile throughout London rents for new tenancies had seen a higher increase of 7.7% for the same period in the previous year. This is a’ hat trick’ of monthly quarterly rental increases for London. Unsurprisingly the Capital enjoys the highest rent increases across England.
Scotland has come out on top of the table across the UK with an increase of 11.4% for new tenancies over the same three month period in relation to last year’s figures. The East Midlands is runners up with an increase of 7.9%.
The findings of the report’s regional figures are:
Scotland: Average rent three months to April £704 is + 11.4%
East Midlands: Average rent three months to April £646 is + 7.9%
Greater London: Average rent three months to April £1,543 is + 7.7%
South East England: Average rent three months to April £963 is + 5.1%
Yorkshire and Humberside: Average rent three months to April £627 is+ 4.8%
East Anglia: Average rent three months to April £809 is+ 4.3%
Wales: Average rent three months to April £597 is + 4.3%
South West England: Average rent three months to April £891 is + 3.2%
Northern Ireland: Average rent three months to April £608 is + 3.0%
West Midlands: Average rent three months to April £659 is + 2.2%
North East England: Average rent three months to April £532 is + 1.6%
North West England: Average rent three months to April £659 is – 1.0%
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