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

Strong Tenant Demand Sees Average UK Monthly Rent Hit £987

The latest figures released by Homelet have revealed that, for landlords at least, rents are beginning to move in the right direction with the third successive monthly rise. According to the data, the average rent in the UK now stands at £987, up by 0.2% on last month and up 4% from June where it stood at £951. When London is excluded, the average rent in the UK is now £828 - up by 3.9% on last year. Ten of the twelve regions monitored by HomeLet showed an increase in rental values between September 2019 and September 2020, with the South West seeing an increase of 6.6%. Read more on the Property Reporter website.

https://www.propertyreporter.co.uk/landlords/strong-tenants-demand-sees-average-uk-monthly-rent-hit-987.html

UK Rents Rise Everywhere Barring London

The average rent in the UK is now £985, having risen by 2.1% on last month and 1.5% on last year, HomeLet’s rental index has found. Rents rose annually to August in nearly every region, as they increased by 5.5% across the South West to £899. However London rents fell by 2.1% year-on-year to £1,611. Read more on the Property Wire website.

https://www.propertywire.com/news/uk-rents-rise-everywhere-barring-london/

Average Rents In Britain Up 1.8% On 12 Months To September

Average rents in Britain increased by 1.8% in the year to September 2019 to £998, rising everywhere apart from Wales where they fell by 1.4%, the latest lettings index shows. It means that the average rents in Wales was £673, according to the latest Hamptons International monthly lettings index which is based on achieved rather than advertised rents on newly let properties. Rents in the South drove rental growth, with the South West recording the strongest annual rental growth at 4.5%, taking the average rent in the region to £851, followed by the South East, up 3.8% to £1,096 and the East up 2.1% to £984. Read more on the Property Wire website.

https://www.propertywire.com/news/uk/average-rents-in-britain-up-1-8-on-12-months-to-september-but-fall-in-wales/

RSH Stats Show Average Rent Reductions For English Social Housing

The second release of the RSH Statistical Data Return (SDR) 2018-2019 shows a reduction in the average rent for general needs social housing in England and a significant difference in rent levels across regions. The stats show private registered providers of social housing with 1,000 or more units/bedspaces reported an average net rent of £95.12 per week for the general needs rental stock properties they own – excluding Affordable Rent and intermediate rent. This is a reduction of 1.3% since 2018. Read more on 24housing.

https://www.24housing.co.uk/news/rsh-stats-show-average-rent-reductions-for-english-social-housing/

Void Periods At Record Low In August, While Average Rents Increased

average to just 11 days, the latest industry rental report has found. The shortest average void periods were recorded in the South West, where it took just five days to fill a vacant property in August, eclipsing the region’s previous year to date low of nine days, according to the report from property technology company Goodlord. It says that this was despite a big spike in average monthly rents in the South West, with costs in the region jumping up by 20% to £1,126, up from £942 in July. Last month’s figures were well above the South West year-to-date average rental cost of £938. Read more on the Property Wire website.

https://www.propertywire.com/news/uk/void-periods-at-record-low-in-august-while-average-rents-increased/

Average Rent For UK Property Now £1,217

The average rent for a property in the UK grew by 0.96% in the year to March, as slow rents in London (0.57%) continued to weigh down on otherwise resilient rental growth in the rest of the UK (1.16%). That puts the average rent paid for a property in the UK at £1,217, or £772 excluding London, according to the latest Landbay Rental Index, powered by MIAC. Annual growth hotspots include Edinburgh City (5.97%), Nottingham (4.28%), and Blaenau Gwent (3.76%). Read more on 24housing.

https://www.24housing.co.uk/news/average-rent-paid-for-a-property-in-the-uk-now-stands-at-1217/

Rents Continue To Rise But Landlords Are Concerned About Impact Of Brexit

Average rents in the UK have grown steadily over the last month, but the potential impact of Brexit is causing concern among landlords, according to the latest index report. They are 1.7% higher than a year ago at an average of £943 but when London is excluded they have increase by 1.8% to £780 while in London rent are up 3% to £1,632, according to the HomeLet rental index. The data also shows that the region with the largest year on year increase is Scotland, up 5.6% increase since September 2017. Read more on the Property Wire website.

https://www.propertywire.com/news/uk/rents-in-the-uk-continue-to-rise-but-landlords-are-concerned-about-impact-of-brexit/

Average Rents Hit All Time High

According to new figures released by ARLA Propertymark, the percentage of tenants experiencing rent hikes was at the highest level ever recorded in August reaching 40% - up from 31% a month earlier. This is the highest figure recorded since records began in January 2015. Year on year, this figure has increased from 35 per cent in August 2017 and 27 per cent in August 2016. Demand from prospective tenants fell significantly, with the number of house-hunters registered per branch dropping by 19 per cent in August to 64 on average, compared to 79 in July. Year on year, demand is down 11 per cent as there were 72 prospective tenants registered per letting agent branch in August 2017. Read more on the ARLA website.

http://www.arla.co.uk/lobbying/private-rented-sector-reports/

Rising Rents Gave Landlords A Good Start To The Year

Landlords enjoyed a good start to 2017, according to the latest Your Move Buy-to-Let Index for England and Wales, with rents showing growth in all but one region, though yields continue to vary. Across the whole of England and Wales rents increased by 1% in the last 12 months, despite dropping back slightly between December and January. The average property let for £798 in the first month of 2017. This compares to a figure of £790 at the same point a year ago. The East of England continues to “power” rental scene, according to the report. Read more on Housing Excellence.

Rents Outside London Rise To £750 A Month

The average rent in the UK outside of London hit £750 a month in December, rising by 2.04% over 2016, according to the latest figures from Landbay. Private tenants outside the capital are now forking out over half (53%) of average take-home pay (put at £1,425), according to Landbay’s latest Rental Index.  Average rents across all property sizes grew by 2.13% in England (without London), 1.42% in Scotland and 1.43% in Wales in 2016, rising to £755, £721 and £634 respectively by the end of the year, it said. Together, this means the average monthly rent paid for a property in the UK outside London has hit the milestone figure of £750. Read more on Housing Excellence.

Rents In London Outpaced By The Rest Of The Country

Rents in London have grown at a much slower rate than in the rest of the country during "a year of unprecedented change faced by private landlords". Homelet, which carried out the research, found that rents in the capital have increased by just 1.6pc in the 12 months to November. This was the same rate as the East Midlands, and lower than every other region. On a monthly basis, rents in London fell by 1.4pc in November, bringing the average rent to £1,521 per month. The rate of annual growth of rents in the capital has been slowing for the last five months, and have hit an affordability threshold. Read more on the Daily Telegraph website.

Buy-To-Let Index Records Second Highest Rents Ever

Recent rent increases in England and Wales levelled off in October, with the average rent coming to £900 a month according to the latest buy-to-let index from Your Move. This monthly average rent was down marginally from September’s figure of £907. Despite the slight drop from September to October, this represents the second highest rent ever recorded in the survey, it said, with rents across England and Wales having grown by 12% in the year to October 2016. “After a turbulent year for the economy it is no surprise the rental market has paused for breath this month,” said Adrian Gill, director of lettings agents, Your Move. “Despite economic uncertainty and the European Union referendum result, the lettings market has powered through the year so far.” Read more on Housing Excellence.

Average Rents Down Month On Month In October

Rental growth continues to slow across Great Britain, driven by the South of England with average rents up by just 1% nationally year on year and falling month on month, the latest index shows. This was the slowest increase in October since 2010, meaning that the second half of the year has seen the market swing in favour of tenants with an average rent of £947, according to the index from Countrywide, down 1.7% month on month. Indeed, month on month rents are down across the country apart from central London which saw a slight rise of 0.3%, taking the average rent to £2,475 a month. The biggest month on month fall was in the South East with rents down 4% to £1,150, followed by the North with a fall of 2.6% to £674. Read more on Property Wire.

Housing Crisis 'Single Most Important Driver of Poverty,'

UK government proposals to manage the housing crisis through rent controls are doomed to fail, according to a critical new report by the Institute of Economic Affairs (IEA). In the UK, tenants are saddled with rents on average almost 50% higher than those in the Netherlands, Belgium, Germany and France. British politicians across the political spectrum agree that the UK is in the grips of a serious housing crisis. The average private sector rent in London has reached 62% of average income. And even across the rest of the UK, renters are spending nearly 20% more of their incomes on rent payments than their European counterparts. Put simply, housing in the UK, and renting in particular, is the most expensive in Europe. Read the report on the IEA website.

Average One Bedroom Rent Tops £1,000 Per Month

The average rent for a one bed property in the UK hit £1,010 in August. That takes the total to over two thirds (67% ) of the average disposable income of £1,497, according to the latest Landbay Rental Index. The Index shows signs that rental pressure is easing on tenants, as one bed rents grew by 0.1% last month, and 1.7% over the last year, behind wage growth of 2.4%. In London, the proportion of monthly income spent on rent is significantly higher. The average rent for a one bed was £1,461 in August, compared to an average disposable income of £1,967. Read more on 24dash.

Buy-To-Let Rents Rise To All-Time High

The average monthly rent for a home in England and Wales rose to an all-time high of £846 in July. The overall figure was 5.2% higher than a year previously, according to the latest monthly index of buy-to-let rentals from Your Move. The biggest year-on-year increase occurred in south-east England, with rental costs rising by nearly 15% to £924 as people moved out of London to escape the capital’s high rents. Rents had been expected to fall as landlords rushed to buy property ahead of the new stamp duty rates for buy-to-let properties in April. Your Move’s index shows a slowdown in the early part of summer, but surveys suggest that demand for rental property is outstripping supply. Read more on the Guardian website.

Rental Growth Sustained Across UK During August

Rents across the UK continued to rise during August, with this year’s trend of modest inflation continuing. Tenants signing up to a new tenancy during August agreed to pay an average rent of £913 a month, a 3.1 per cent increase on the same month of 2015. The pace of rent rises, while sustainable, is moderating. The 3.1 per cent recorded in August is comparable to annual increases of between 3.5 and 3.8 per cent over the previous four months. By contrast, annual rental inflation was running at close to 6 per cent this time last year.

·         Rents rose at a modest pace during August, up by an average of 3.1 per cent year-on-year, across the UK as a whole

·         Average rent in the UK now stands at £913 a month, compared to £885 per month in August 2015

Read more on the Homelet website.

Tax Changes Prompt A Fall In Rent

Rents have reversed their spring trajectory as a tide of homes to let bought before the Stamp Duty Surcharge have reached the private rented sector. Average rents for homes to let across England & Wales now stand at £792 per month, as of May 2016. This represents a drop of -0.2% since April, and compares to a long-term average monthly rise of +0.4% over every May since the recession. On an annual basis, rents are now 1.8% higher than in May 2015 – or half the annual rate of rental growth seen at the start of 2016, when in January this stood previously at 3.6%. Read more on 24dash.

Average Length Of Time In PRS Rises To 14 Years

A survey of more than 800 Private Rented Sector (PRS) tenants has found high levels of satisfaction with rented accommodation – with 90% of those surveyed saying they consider their rented property to be their home. 79% said they felt satisfied with their current landlord, while just 13% said they had ever rented from a ‘rogue’ landlord. Average rents decreased among respondents from £660 in Q3 2015, to £607 in Q4 2015. Those perceiving their rent to be ‘very good’ and ‘good’ value for money increased from 18% and 48% respectively in Q3 2015, to 20% and 49% in Q4 2015. The average length of time spent in the PRS has also risen, from 12 years in Q3 2015, to 14 years, with respondents staying an average of 9.5 years in their current rented properties. Read more on the Best Advice website.