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ValPal
Rents still rising but rate of growth slows significantly

Average rents across the UK rose a modest 0.9 per cent in the year to October, taking the country's average to £909 a month.

In London, rents rose 0.6 per cent over the 12 month period to stand at £1,556.

The data comes from HomeLet which says October saw the fourth successive month of increases following a short period of falling rents in the spring. 

However, while October’s average increase reflects higher rents recorded in 11 out of the 12 areas of the country that HomeLet monitors – the south east was the exception – the pace of rental price inflation has slowed. 

October’s 0.9 per cent increase follows rises of 2.0 per cent and 2.4 per cent in September and August respectively. Indeed, on a monthly basis, rents on new tenancies in October were lower in every area of the country than in September. 

The national picture was mirrored in London where annualised rental price inflation was 0.6 per cent in October, down from 1.8 per cent and 2.5 per cent in September and August. 

HomeLet's data refers to brand new tenancies.

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