The average UK rental price is now £1,229 pcm, increasing 1.3 per cent from last month.
Greater London sees a massive 1.9 per cent month-on-month jump to an all-time high of £2,077 pcm. Excluding London, the average price of rent in the UK is £1,027, up by 1.1 per cent.
Scotland saw the highest monthly increase with rental averages rising by 5.5 per cent monthly, the highest out of any region, leading to the highest ever average price recorded in Scotland.
Meanwhile the UK’s cheapest rental area, North East England, drops a further 1.1 per cent from last month to £625 pcm.
The figures come from industry supplier HomeLet and the firm’s chief executive is now warning that the lack of supply is making the rental sector “more unstable” for tenants and landlords alike.
Andy Halstead says: “With another increase and UK prices now averaging at £1,229, it is clear that there is a continued risk for tenants and landlords alike, with a very real likelihood that tenants up and down the country might struggle with paying their rent. We again urge landlords to consider rent guarantee insurance to protect themselves, if they have not invested already.
“Scotland in particular has seen a soar in the rental market, with a 5.5% monthly swing showcasing an all-time high average rental price of £940.
“The capital shows no signs of slowing down either, with yet another record price recorded in Greater London. It is not so long ago that we were talking about London breaking the £2,000 pcm barrier for the very first time – a big leap to £2,077 pcm is a sign of how a lack of available rental properties is pushing prices up for tenants and making the private rental market more unstable for tenants and landlords alike.”
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Just who knew this was going to happen when landlords sold up 🫤🫤 in government it appears NOBODY 😂😂🆘🆘
Rents soars and availability of high rise Flats increasing by the thousands rapidly in London.
There is no need to ban them from housing Benefit Claimants or universal credits it’s automatic.
A one such one bed Flat in this huge complex in Greenford last year rented for £2’100. pm on renewal this year increased to £2’500, pm.
Good isn’t it I have one bed Flat very near by but better positioned for multiple Shops, adjacent to 2 Stations / over ground & tube with parking + outside space rented for £920. pm, is that why we are enemy No.1.
Give us a break one day Mr Gove one day says Private Rented Sector is vital, the next day the attack is back on, he got nobbled brought back into line by the Big Developer Boys & Institution’s overnight.
I have been contacted by ex tenants who moved to a modern high rise flat - to move in with one of their girlfriends. Their rent was now going to be increased by £800 a month! They wanted to know if I had a flat available because they know I charge a reasonable amount and don't increase the rents. I couldn't help them - and I don't know what to do myself with this impending disastrous legislation.
Ellie - It’s not for you to do anything, you act in a way that protects you and your family, as we keep saying… we are not social housing.
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