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TODAY'S OTHER NEWS

Average rent for new lets is almost £1,000 pcm - Countrywide

The average cost of a new let in Great Britain has risen to £977 per calendar month. 

That’s a 2.6 per cent year-on-year increase driven mostly by rising rents in the south of England.  

The south west region recorded the strongest annual rental growth of 4.0 per cent while rents in Greater London increased 3.1 per cent year-on-year.

However, Countrywide - which has released the data via its upmarket Hamptons International brand - says the May 2019 figures are compared with a short period of weak average rents back in May 2018.  

The east of England and Wales were the only regions to record negative rental growth, with average rents falling 0.5 per cent and 0.1 per cent respectively year-on-year.

The calculations have been based on an adjusted assessment of 90,000 homes let and managed by Countrywide in each year.

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