The shifting needs of tenants throughout the pandemic has created a heightened demand for locations that offer greater space, driving average rents up to £839 when London is excluded – a rise of 5.8% against last year.
The latest data and analysis from HomeLet has revealed that when London is factored in, the average rent stands at £981, showing a 2.9% increase on last year.
HomeLet data also shows that nine of the twelve regions they monitor showed a YOY increase in rental values between January 2020 and January 2021. The South West saw the largest increase for the fifth month in a row (8%).
Rents in London continue to fall YOY, showing a 3.9% drop between January 2020 and January 2021 – the eighth decrease in annual variance in subsequent months. Rents in Northern Ireland are down 2.1% on last year – the fourth decrease in
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