The average rent in the UK is now £965 which is up by 1.5% on the previous month, according to the latest HomeLet Rental Index. When London is excluded, the average rent in the UK is £808 which is an annual rise of 1.8%.
Despite annual rises in ten of the twelve regions monitored by HomeLet, rents in London are showing a 3.2% fall between July 2019 and July 2020. This represents the third decrease in annual variance in subsequent months and the biggest decrease since June 2015. The South East also shows a yearly decrease, with an annual decline of 1.8%. Alternatively, Northern Ireland saw the biggest annual increase in rental prices, at 2.3%.
The region with the largest year-on-year rent value increase was the North West, showing a 6.5% increase between July 2019 and July 2020. In July, the average rental value in London was 83% higher than
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