New rents drop across most of UK despite above-inflation annual rises

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%

x

Email the story to a friend!



One Comment

  1. Anthony Kerrigan

    I love these super accurate spreadsheets based on 100 replies Nationally. Not True for my part of the Country.

    Report
X

You must be logged in to report this comment!

Comments are closed.

Thank you for signing up to our newsletter, we have sent you an email asking you to confirm your subscription. Additionally if you would like to create a free EYE account which allows you to comment on news stories and manage your email subscriptions please enter a password below.