Average Cost of Renting Reaches All-Time High

Tenants in the UK are paying more rent than ever, after the average monthly cost of renting a home rose to a new record amount.  The June 2013 HomeLet Rental Index shows it now costs an average of £811 per month to rent a property, an increase of 3% during June, and a 5.1% increase from the same time last year.  When the Greater London figure is removed, the average cost of renting a home is £681 per month, an increase of 1.9% from May 2013 – and the highest amount since August 2012.  June’s data shows the increases in average rental amounts are consistent across the UK, with eight of the 12 regions seeing the cost of renting a home rise during June. Read more on the HomeLet website.