August once again saw record rental growth, with the average rent of a new let in Great Britain up 7.4% or £75 in August compared to the same month in last year to stand at £1,085 per calendar month (pcm), according to Hamptons, part of Countrywide.
Southern regions outside of London continued to see the strongest growth. Rents in the South West rose 13.9%, followed by the South East and the East of England, at 12.8% and 10.9% respectfully.
London saw the weakest growth, with rents up 1.4% annually. But while rental growth in outer London softened a little to 3.9% in August, inner London rents continued to recover. The average rent in inner London remains 8.8% cheaper than in August 2020, however rents rose 5.8% or £116 between July and August this year.
Average rent on a new let
| Aug-20 | Aug-21 | YoY Change (%) | YoY Change (£) | |
| Greater London | £1,765 | £1,790 | 1.4% | £25 |
| Inner London | £2,322 | £2,117 | -8.8% | -£205 |
| Outer London | £1,662 | £1,727 | 3.9% | £65 |
| South East | £1,075 | £1,213 | 12.8% | £138 |
| South West | £868 | £989 | 13.9% | £121 |
| East of England | £985 | £1,092 | 10.9% | £107 |
| Midlands | £708 | £763 | 7.8% | £55 |
| North | £674 | £738 | 9.5% | £64 |
| Wales | £697 | £749 | 7.5% | £52 |
| Scotland | £678 | £751 | 10.8% | £73 |
| Great Britain | £1,010 | £1,085 | 7.4% | £75 |
| Great Britain (Ex London) | £817 | £904 | 10.6% | £87 |
Source: Hamptons
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