Average rent in Wales down by over 2% as the rest of UK sees increases

AS UK RENTS RISE, WALES RENTAL PRICES DOWN OVER 2% IN LAST YEAR

HOMELET’S Rental Index figures for August 2018 have been released.

The headlines from this month’s report are:

• The average rent in the UK is now £947, up 0.9% on last year
• When London is excluded, the average rent in the UK is now £786, up by 1.3% on last year
• Average rents in London are now £1,632, up by 1.4% on last year and up 1.1% on July 2018, when the average rental price broke £1,600 for the first time
• The region with the largest year-on-year increase is Scotland, showing a 5.6% increase between August 2017 and August 2018
• The region with the largest month-on-month increase is also Scotland, showing a 2% increase between July and August 2018
• Whilst this month has seen rents rise in all 12 of the regions monitored by HomeLet, the North East, South West, Wales and the East of England have seen a decrease in the rental prices from the same time last year

As the UK’s largest tenant referencing firm, HomeLet reference 500,000 tenants every year. The HomeLet Rental Index provides the most comprehensive and up-to-date data on rental values in the UK.

The trends reported within the HomeLet Rental Index are brand new tenancies, which were arranged in the most recent period, providing an in-depth insight into the lettings market.

Attached to this email is the full report which includes;

• Average rental values in the UK
• UK regional breakdown
• Household rent to income ratio in the UK
• Annual variance in average rental values by region
• Greater London vs. the UK
• Greater London ranked by borough

Head to https://homelet.co.uk/homelet-rental-index/ for more information.