Rental Price Growth Slows Across The UK

·         Rent price rises have slowed to match the pace of house price growth in the UK after 9 months of sustained faster growth

·         Rent prices are now 8.5 per cent higher than a year ago

·         The average rent in the UK for new tenancies is £995 per month

·         The average rent for a new tenancy in Greater London now stands at £1,555 per month

·         Deflation across the economy, and rising real incomes, mean the slowdown in rents could be temporary

After six months of annual rent price rises of 10 per cent or higher, the latest findings from the HomeLet Rental Index have shown rent prices have slowed below double figures to an average annual increase of 8.5 per cent across the UK. For the three months to September 2015, every region of the UK with the exception of the East Midlands has seen annual rent price rises slow down or move into negative growth. Read more on the HomeLet website.