Tenant Demand Sees Average UK Rents Hit Another Record High

 Vast rental demand rippling across the country has fuelled yet another rise in monthly rents according to the latest data and analysis from Homelet. According to the latest figures, the average rent in the UK now sits at £1,061, up 7.5% on the same time last year and a 0.8% increase from the previous month’s figures. In the capital, rents are rising too. An annual increase of 6.4% has taken the average price in London to £1,752 PCM; the monthly jump of 2.3% is the biggest in the country. Excluding London, the average UK rent price is up to £891 PCM, up 7.6% YOY. Read more on the Property Reporter website.

 https://www.propertyreporter.co.uk/landlords/tenant-demand-sees-average-uk-rents-hit-another-record-high.html

Private Rented Sector Stable With Voids At Historic Lows

The private rented sector in the UK is a stable market where yields have seen modest improvements and void periods, the average amount of time PRS properties spend unoccupied, are at historic lows. More than half of those landlords surveyed in the latest trends data report from Paragon Mortgages report steady tenant demand over the quarter, while 40% said tenant demand was either ‘growing’ or ‘booming’. The percentage of respondents expecting tenant demand to remain stable over the coming 12 months, or grow, has also increased from 85% to 89%. The latest data also shows that average yields have grown over the last three months from 6.3% to 6.4%. This improvement is in line with steady growth seen throughout 2015. Read more on the PropertyWire website.