Rental growth continues to accelerate, reaching the highest level since April 2016 according to data from Hamptons International, part of Countrywide.
The average cost of a new let in Great Britain increased to £986 pcm in June, up 3.1 per cent year-on-year.
The South West recorded the strongest rental growth, with rents rising 4.5 per cent annually, while rents in London increased 4.3 per cent year-on-year - however, Hamptons admits that June 2019’s figures are compared with a period of weak rents in June 2018 when rents in the capital started falling for three consecutive months.
Meanwhile average rents on newly let properties rose in six out of eight regions, with only Wales and the East of England recording small year-on-year falls.
Aneisha Beveridge, head of research at Hamptons International, says: “Strong rents in the South drove rental growth in Great Britain in June. Low stock levels, particularly in the South, continue to put pressure on rents.”