The average UK rent now stands at a record £1,007 per calendar month – the highest ever, according to HomeLet. It’s up 5.9 per cent on the same time last year, and up 7.0 per cent on this time two years ago.
Scotland has seen the most significant rise in just the past month, with the average price rising 4.4 per cent to £738 pcm in June.
London sees its first price increase for over a year, with an annual rise of 1.5 per cent to £1,607 ppm – although this is still lower than pre-Covid, when the average was £1,611 back in June 2019.
Excluding London, the average UK rent is actually 8.0 per cent higher than last year, up to £861.
South West England saw the highest annual price rise, with the current average price of £948 ppm, marking a 10.5 per cent increase on this time last year, and a 12.6 per cent increase on pre-Covid levels. Elsewhere, rent prices in the North East fell by 2.3 per cent compared to last month to an average of £547, one of only two regions to see a month-on-month price dip.
“Some people might be shocked to see the average UK rental price tip over the £1,000 mark, yet supply and demand dynamics will only continue to drive rental prices upwards for the rest of the year, and we’ll see more records broken in 2021.”
www.lettingagenttoday.co.uk / 12th June 2021
For more info- https://www.kingsleywood.co.uk/letting/landlords/