Average rents throughout the UK have risen for the fourth time in as many months in keeping with the HomeLet index.
Typical lease is now £992 per thirty days – and when London is excluded, it’s £847.
Nine of the 12 areas monitored by HomeLet present a month-to-month rise – the biggest is in Northern Ireland, up 2.9 per cent between the top of February and the top of March.
However, rents in London proceed to fall 12 months on 12 months, displaying a two per cent drop between March 2020 and March 2021.
Commenting on the newest information, Andy Halstead, HomeLet and Let Alliance chief govt, says: ”Property professionals know that the personal rented sector works finest when there’s stability. Ultimately landlords need good tenants, and tenants desire a high quality property at an inexpensive value.
“With nearly one in 5 individuals dwelling in the personal rented sector, it is becoming that the federal government ought to give attention to it, with an knowledgeable coverage that strives to realize a stability between letting brokers, landlords and their tenants, however sadly that is not the case in the mean time.
“The continued increase in rents above the speed of inflation is a symptom of present coverage.
“Property is a lengthy-time period funding, and the narrative that landlords and letting brokers are driving up rental prices merely is not true. Professional letting brokers and landlords welcome initiatives that enhance requirements in the sector.
“Still, the continued assault on landlords by means of insurance policies that disincentivises property funding will solely drive rental worth upwards for tenants.
“Whilst tenants might aspire to homeownership in the long run, the personal rented sector will all the time play an important function in the mobility of the nation and the general housing provide chain. As demand will increase, the UK wants extra rental inventory for tenants, not much less and with out coverage knowledgeable totally by property professionals, rents will rocket to report ranges this summer season.”
