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TODAY'S OTHER NEWS

Modest annual rent rise reported by HomeLet

The latest lettings market snapshot by referencing firm HomeLet shows the average rent in the UK is now £947.

This is up by a modest 3.2 per cent on the same time last year.

When London is excluded, the average rent in the UK is now £784 - also up by 3.2 per cent on last year

Meanwhile average rents in London are now £1,665 - the result of yet another 3.2 per cent rise on last year.

All 12 of the regions monitored by HomeLet show an increase in rental values between November 2018 and November 2019.

However all 12 also saw a slight decrease in the single month from October 2019, with the exception of Wales and the North East which saw an increase of 1.1 and 0.4 per cent respectively, and the East Midlands which remained unchanged. 

The region with the largest year-on-year increase is Wales, showing a 5.2 per cent increase between November 2018 and November 2019.

The trends reported within the HomeLet index are brand new tenancies, which were arranged in the most recent period.

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