APRIL 15, 2019 | BY A & S Property
Average rents up 1.9% year-on-year
Rents in Great Britain increased 1.9% year-on-year in March, driven by a 3.7% rise in Greater London where rents hit a record high, according to new figures from Hamptons International, part of Countrywide.
The data shows that the average cost of a new let in Great Britain rose to £969 per calendar month (pcm) in March as rental growth continues to rise, led by Greater London, where the average price of a home rose to £1,737pcm, the highest level on record.
Meanwhile, Scotland was the only region where rents fell in March, down -0.1% year-on-year.
New lets (pcm)
Source: Hamptons International
Aneisha Beveridge, head of research at Hamptons International, said: “Following a sluggish 2018 London rents reached a record high in March.
“The average cost of a new let in London rose to £1,737pcm in March, 2.3 times more than the average rent outside the capital.
“Meanwhile every region in Great Britain recorded rising rents last month other than Scotland.”
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