Figures from Homelet’s Rental Index May 2018 have been released.
The headlines from this month’s report are:
- The average rent in the UK is now £919, up by 2 per cent on the same time last year
- When London is excluded, the average rent in the UK is now £763, up by 1.3 per cent on last year
- Average rents in London are £1,586, up 5.6 per cent on last year, which is the highest regional year-on-year increase identified this month
- The region with the largest month-on-month increase was the North East, showing a 1.9 per cent difference between April 2018 and May 2018
- Whilst 11 of the 12 regions has seen a year-on-year increase in rental prices, five of the regions identified by the HomeLet Rental Index data saw rents fall from April 2018 to May 2018: Greater London, Scotland, the West Midlands, the East Midlands and the South West