Average rent across UK hits record high.

The lettings market continues to boom, with Home. Let’s latest index showing average UK rents at a record high for the third month in succession.

The average rent is now £1,053 pcm, which is up 6.9 per cent on the same time last year, and up 2.3 per cent on August’s figure.

Wales has seen the highest annual rise - up 12.8 per cent in a year, to £723 pcm.

And there are signs of recovery in London, which appears to have stemmed the falls seen during the peak of the pandemic - annual rents in the capital are up 3.6 per cent to £1,713 pcm.

Every region of the UK saw an annual price rise and only Northern Ireland saw a monthly dip - the rent there remains flat in September at an average of £704 pcm.

Rob Wishart, head of business intelligence at HomeLet & Let Alliance, says: “Typically, rents for new tenancies will rise in line with the rate of inflation, but that’s not been the case in the past few months.

“The demand for housing and certain property types is outstripping supply in many areas, causing upward pressure on rental prices. We can expect the increase in rents to continue for the foreseeable future, with many regions now seeing unprecedented demand for housing stock and landlords.

https://www.lettingagenttoday.co.uk/breaking-news/2021/9/average-rent-across-uk-hits-record-high-for-third-month-in-a-row

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