Rises for newly agreed rent prices outpace inflation over the year

Rents on new tenancies rose across all 12 UK regions last month, HomeLet data shows.

Figures from the tenant referencing provider show rents rose 2.5% annually in the UK to £967 per month in September.

When London is excluded, the average newly agreed rent in the UK is now £797 – up by 2.2% on last year.

This compares with the UK inflation rate of 1.7%.

Five of the regions monitored by HomeLet recorded annual increases of more than 3%, with the largest annual increase in the north-west at 4.4%.

The east midlands, the south-west, Greater London and the north-east also recorded increases above 3%.

However, newly agreed rents were down 0.3% on a monthly basis across the UK and fell 0.6% when London was excluded.

Region Sep-19 Sep-18 Annual Variation Aug-19 Monthly Variation
North West £739 £708 4.40% £741 -0.30%
East Midlands £653 £629 3.80% £655 -0.30%
South West £846 £818 3.40% £852 -0.70%
Greater London £1,694 £1,640 3.30% £1,689 0.30%
North East £535 £519 3.10% £531 0.80%
West Midlands £718 £701 2.40% £720 -0.30%
Yorkshire & Humberside £657 £644 2.00% £655 0.30%
Wales £634 £621 2.10% £636 -0.30%
Scotland £676 £663 2.00% £671 0.70%
East of England £927 £915 1.30% £930 -0.30%
Northern Ireland £673 £664 1.40% £664 1.40%
South East £1,045 £1,043 0.20% £1,064 -1.80%
UK £967 £943 2.50% £970 -0.30%
UK excluding Greater London £797 £780 2.20% £802 -0.60%
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One Comment

  1. EAMD172

    What a surprise!!

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