• Southcourt Property Services Ltd. Est 1989.  Letting Agent Training since 1997
  • 020 3397 0070

Rents increasing across the UK

Rents increasing across the UK

A recent major study carried out by one of the UK's largest and most respected tenant referencing and lettings insurance companies has found that rents are still increasing across the whole of the UK.

The report states that rents outside London for new tenancies that started from March 2016 onwards up to and including April 2016, were on average 5.1% higher than the same period last year. This was higher than those tenancies that had started from January 2016 to February 2016, which stood at 4.9% higher than the same period last year.

In London, rents for new tenancies have seen a substantial increase of 7.8% compared to the same period in 2015, the previous year. This is not surprising as the capital has historically had above inflation increases in rents.

Scotland has seen the highest increases across the UK with an increase of 11.4% for new property contracts over the same three month period in relation to last year's figures. The Midlands is also showing an increase of 7.9%.

While for renters, market forces have resulted in this news, for letting agents who charge a % of the rent in commission, this is excellent news for bottom line earnings and shows that starting a letting agency can be a good business venture if you have the ambition, tools and techniques to do so.

Find out more about potential earnings and how we can help build your own letting agency here:
https://www.lettings-opportunity.co.uk/letting-agency-fees/

Regional figures across the UK are:

  • Scotland: Average rent three months to April £704 is + 11.4%
  • East Midlands: Average rent three months to April £646 is + 7.9%
  • Greater London: Average rent three months to April £1,543 is + 7.7%
  • South East England: Average rent three months to April £963 is + 5.1%
  • Yorkshire and Humberside: Average rent three months to April £627 is + 4.8%
  • East Anglia: Average rent three months to April £809 is + 4.3%
  • Wales: Average rent three months to April £597 is + 4.3%
  • South West England: Average rent three months to April £891 is + 3.2%
  • Northern Ireland: Average rent three months to April £608 is + 3.0%
  • West Midlands: Average rent three months to April £659 is + 2.2%
  • North East England: Average rent three months to April £532 is + 1.6%
  • North West England: Average rent three months to April £659 is - 1.0%

Latest Posts