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)

 

Mar-19

Mar-18

YoY

Greater London

£1,737

£1,675

3.7%

    Inner London

£2,655

£2,592

2.4%

    Outer London

£1,563

£1,501

4.1%

South East

£1,028

£1,026

0.2%

South West

£795

£779

2.0%

East

£944

£936

0.8%

Midlands

£680

£668

1.8%

North

£630

£625

0.7%

Wales

£655

£650

0.8%

Scotland

£632

£633

-0.1%

Great Britain

£969

£950

1.9%

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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