The average rent for new lets in the UK is £1,226 after a +6.6% rise in the last year. Rents for new lets will rise more slowly this year, but only a major supply boost will help with rental affordability.
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The average UK rent is now £1,223 after a +7.8% rise in the last year. Rents for new lets will rise more slowly this year, but only a major supply boost will help with rental affordability.
There are signs that the UK rental market will turn in 2024. Rents are reaching the maximum affordable price and rental demand is starting to slow.
Rents continue to rise across the UK, as Scotland overtakes London with the steepest hikes in rental inflation.
A supply and demand problem in the rental market is pushing rents to sky high levels. When will renting prices come down?
In a fiercely competitive rental market, where costs are rising and too few homes are available, what can renters do?
Annual rental inflation for new lets is up 10.4% year-on-year, with rents taking up the highest proportion of earnings in a decade at 28%. Meanwhile, 51% of landlord sales are happening in London and the South East.
Nearly a third of landlords are being hit by higher mortgage rates, risking a further squeeze on the number of rental homes available.
