Rents Rise In Britain’s Property Market
Rents Rise In Britain’s Property Market with the average rent up 2.4% across the UK in the year to August 2017 shows the latest index. Average rents across the UK rose by 2.4% in August compared to the same month a year ago. This is the highest rate of annual inflation since November 2016. Average rents across the UK rose by 2.4% in August compared to the same month a year ago, the highest rate of annual inflation since November 2016. The rise means that the average monthly rent is now £939. However, rental values in London are slightly above the national average; London has increased by 2.5% year on year to £1,609 shows the HomeLet Index. Excluding London, the average rent in the UK would be £776. Which is up 2.3% year on year. Furthermore, in the last 12 months, rental prices have risen in 11 out of the 12 regions of the UK.
London Rental Market Inflation
Inflation in London rental market, was in part what drove the rise in the average rental value. Average rents in the capital, agreed on new tenancy agreements reached £1,600. The fastest rising rents were in the South West of England, up 3.9% year to August. Northern Ireland recorded an annual growth of 3.7%. Only the South East saw rents fall, down by 0.2%. HomeLet’s chief executive officer Martin Totty says; ‘While we’ve often observed a seasonal uplift in average rents at this time of year, there’s evidence of a trend now emerging which points to a reversal of the declines seen over the early part of this year,’ ‘Whether the recent strengthening in rents achieved, seen generally across all regions of the country, is driven by more robust demand or by some restriction of supply is hard to judge. Either way, landlords will only be encouraged to invest in property over other assets if they’re convinced they can achieve reasonable returns,’ said Totty. ‘If not, then the supply of rental properties could become constrained. Many landlords still face further increases in their costs and so will need to find a new equilibrium between their legitimate required returns and affordability for tenants. It seems the elements in solving that particular equation become ever more complex,’ he added. Read More: Calls for Government to build to tackle UK’s property shortage Click Here to see a selection of our buy-to-let property portfolio for sale
Rents Rise In Britain’s Property Market
Rents Rise In Britain’s Property Market with the average rent up 2.4% across the UK in the year to August 2017 shows the latest index. Average rents across the UK rose by 2.4% in August compared to the same month a year ago. This is the highest rate of annual inflation since November 2016. Average rents across the UK rose by 2.4% in August compared to the same month a year ago, the highest rate of annual inflation since November 2016. The rise means that the average monthly rent is now £939. However, rental values in London are slightly above the national average; London has increased by 2.5% year on year to £1,609 shows the HomeLet Index. Excluding London, the average rent in the UK would be £776. Which is up 2.3% year on year. Furthermore, in the last 12 months, rental prices have risen in 11 out of the 12 regions of the UK.
London Rental Market Inflation
Inflation in London rental market, was in part what drove the rise in the average rental value. Average rents in the capital, agreed on new tenancy agreements reached £1,600. The fastest rising rents were in the South West of England, up 3.9% year to August. Northern Ireland recorded an annual growth of 3.7%. Only the South East saw rents fall, down by 0.2%. HomeLet’s chief executive officer Martin Totty says; ‘While we’ve often observed a seasonal uplift in average rents at this time of year, there’s evidence of a trend now emerging which points to a reversal of the declines seen over the early part of this year,’ ‘Whether the recent strengthening in rents achieved, seen generally across all regions of the country, is driven by more robust demand or by some restriction of supply is hard to judge. Either way, landlords will only be encouraged to invest in property over other assets if they’re convinced they can achieve reasonable returns,’ said Totty. ‘If not, then the supply of rental properties could become constrained. Many landlords still face further increases in their costs and so will need to find a new equilibrium between their legitimate required returns and affordability for tenants. It seems the elements in solving that particular equation become ever more complex,’ he added. Read More: Calls for Government to build to tackle UK’s property shortage Click Here to see a selection of our buy-to-let property portfolio for sale
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