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 (£)|
|East of England||£985||£1,092||10.9%||£107|
|Great Britain (Ex London)||£817||£904||10.6%||£87|