New rents in the UK increased by 2.6% in January overall
year on year, the fastest rise for the month in two years but continued to fall
in London. January saw 36% of landlords increase the rent when signing a new
tenancy, up from 27% at the same time last year. A breakdown of the figures
reveals that rental growth has been led by areas outside London, with rents in
the capital 2.7% lower than they were last year but up 8.8% in Wales, up 8.2%
in the South East and up 7.8% in the East of England. The highest rents are now
in £2,298 a month in central London and £1,260 in Greater London, down 6.6% and
2.7% respectively compared with January 2015 while the average rent nationwide
is £929. Read more on Property Wire.
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