HomeLet Rental Index
Rents in the UK rose by 1.7% in September compared to the same month a year ago; the average monthly rent now stands at £943
Rents in London increased by 3.0% in September this year compared to September 2017; the average monthly rent in the capital now stands at £1,640
When London is excluded, the average UK rental value was £780 in September 2018, this is up 1.8% on last year
HomeLet’s September Rental Index revels that rents rose in 11 of the 12 regions covered in this research.
RICS UK Residential Market Survey
In the lettings market, tenant demand rose at the national level for the fourth successive month (on a non-seasonally adjusted basis). Set against this, instructions to let remain in decline, with the surveys series for landlord listings having been stuck in negative territory since October 2016. Rental projections for the year ahead point to growth of just over 2%, with this rate anticipated to accelerate, averaging around 3.5% per annum, over the next five years. In London, tenant demand has staged a sustained recovery over recent months, increasingly outstripping supply. Although rents are still anticipated to see little change in the near term, five-year expectations point to stronger rental growth coming through further ahead.
Office for National Statistics
UK house prices rose by 3.2% in the year to August 2018, down from 3.4% in the year to July 2018. Annual growth in house prices has remained broadly stable at a national level since April 2018.
House prices grew fastest in the East Midlands region increasing by 6.5% in the year to August 2018, followed by the West Midlands region which increased by 5.1% over the year. House prices in London fell by 0.2% in the year to August 2018. Annual growth in London house prices has been around zero for the last 6 months.