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Construction News
14/04/2016
Greater London Rent Increases Among Highest In UK
New research has revealed the highest percentage of UK rent increases was experienced in Greater London, the East Midlands and Scotland.
Excluding Greater London, the HomeLet Rental Index rents on new tenancies over the three months to March 2016 were on average 4.9% higher than the same period last year.
In London, those signing up to tenancies in the private rental market paid an average rent 7.7% higher than a year ago.
Scotland also experienced a 7.3% increase in average total rental values, at £677 per month.
Martin Totty, Barbon Insurance Group's CEO, said: "We've continued to see increases in rents on new tenancies in almost every part of the UK during the first quarter, as the private rental market has responded to the pressures of an imbalance between demand and supply."
(LM)
Excluding Greater London, the HomeLet Rental Index rents on new tenancies over the three months to March 2016 were on average 4.9% higher than the same period last year.
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In London, those signing up to tenancies in the private rental market paid an average rent 7.7% higher than a year ago.
Scotland also experienced a 7.3% increase in average total rental values, at £677 per month.
Martin Totty, Barbon Insurance Group's CEO, said: "We've continued to see increases in rents on new tenancies in almost every part of the UK during the first quarter, as the private rental market has responded to the pressures of an imbalance between demand and supply."
(LM)
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