HOMELET’s Rental Index figures for July 2019 have been released.
The headlines from this month’s report are:
- The average rent in the UK is now £959, up 2.3% on the same time last year
- When London is excluded, the average rent in the UK is now £794, this is up 2.2% on last year
- The rental growth recorded in July 2019 is in line with inflation, recorded at 2% in the Consumer Prices Index (CPI) in June 2019
- Average rents in London are now £1,665, up by 3.1% on last year
- The region with the largest year-on-year increase is the South West, showing a 4.5% increase between July 2018 and July 2019
- All 12 of the regions monitored by HomeLet showed an increase in rental values between July 2018 and July 2019
| Region | Jul-2019 | Jun-2019 | Jul-2018 | Monthly Var | Annual Var |
| South West | £855 | £842 | £818 | 1.5% | 4.5% |
| Scotland | £679 | £671 | £651 | 1.2% | 4.3% |
| Wales | £637 | £625 | £611 | 1.9% | 4.3% |
| Greater London | £1,665 | £1,611 | £1,615 | 3.4% | 3.1% |
| Northern Ireland | £671 | £671 | £653 | 0.0% | 2.8% |
| East Midlands | £646 | £635 | £631 | 1.7% | 2.4% |
| North West | £726 | £711 | £712 | 2.1% | 2.0% |
| East of England | £925 | £917 | £909 | 0.9% | 1.8% |
| West Midlands | £709 | £695 | £701 | 2.0% | 1.1% |
| South East | £1,053 | £1,035 | £1,041 | 1.7% | 1.2% |
| Yorkshire & Humberside | £641 | £634 | £635 | 1.1% | 0.9% |
| North East | £529 | £530 | £525 | -0.2% | 0.8% |
| UK | £959 | £941 | £937 | 1.9% | 2.3% |
| UK excluding Greater London | £794 | £781 | £777 | 1.7% | 2.2% |
As the UK’s largest tenant referencing firm, HomeLet references over 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.
Head to https://homelet.co.uk/homelet-rental-index/ for more information.
ENDS
For more information, please contact Katie Nelson or Alina Tebbutt at Cartwright Communications on 0115 853 2110 or homelet@cartwrightcommunications.co.uk
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 variances in average rental values by region
- Greater London vs. the UK
- Greater London ranked by borough
Notes to editors:
Operating in Lincoln, HomeLet is part of the Barbon Insurance Group and is the UK’s largest supplier or tenant referencing.
HomeLet is award-winning: Sunday Times Top 100 Best Companies to Work For employer two years running, ESTAS ‘Best in Sector’ and ‘Supplier of the Year’ 2019, UK Top 50 company for customer service for three years running, Feefo Gold Trusted Service Award winner (based on independent customer reviews).
For more information, please visit https://homelet.co.uk/
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