Newly agreed rents have continued to fall across most of the UK on a monthly basis despite above-inflation annual rises, HomeLet reveals.
Figures from the tenancy referencing firm show that average rents on new tenancies fell 0.6% on a monthly basis between October and November, with just Wales and the north-east of England registering a 1.1% and 0.4% increase respectively.
Both the north-west and east of England registered the biggest monthly falls at 0.8%.
Rents were, however, up 3.2% annually to £947 per month.
This is at more than double the 1.5% inflation rate for November.
When London is excluded, the average rent in the UK is now £784, up by 3.2% on last year.
Wales had the largest annual growth at 5.2% to £630 per month.
Region |
Nov-19 |
Nov-18 |
Annual Variation |
Oct-19 |
Monthly Variation |
Wales |
£630 |
£599 |
5.2% |
£623 |
1.1% |
Yorkshire & Humberside |
£652 |
£623 |
4.7% |
£653 |
-0.2% |
Northern Ireland |
£667 |
£639 |
4.4% |
£672 |
-0.7% |
Scotland |
£664 |
£635 |
4.6% |
£674 |
-1.5% |
North East |
£540 |
£517 |
4.4% |
£538 |
0.4% |
North West |
£721 |
£694 |
3.9% |
£727 |
-0.8% |
Greater London |
£1,648 |
£1,597 |
3.2% |
£1,665 |
-1.0% |
East Midlands |
£642 |
£625 |
2.7% |
£642 |
0.0% |
South East |
£1,013 |
£989 |
2.4% |
£1,020 |
-0.7% |
South West |
£838 |
£819 |
2.3% |
£840 |
-0.2% |
East of England |
£917 |
£898 |
2.1% |
£924 |
-0.8% |
West Midlands |
£701 |
£688 |
1.9% |
£706 |
-0.7% |
UK |
£947 |
£918 |
3.2% |
£953 |
-0.6% |
UK excluding Greater London |
£784 |
£760 |
3.2% |
£788 |
-0.5% |
I love these super accurate spreadsheets based on 100 replies Nationally. Not True for my part of the Country.
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