London goes from having the slowest rate of rental growth in England to the fastest.according to Countrywide

January 16, 2018

The latest Countrywide Plc Monthly Lettings Index report – December 2017 released 15th January 2018 headlines ‘Rental growth accelerates in 2017.’

Last year (2017) rents rose by an average of 2.4%, an increase from 1.8% in 2016 according to Countrywide.

The Countrywide report reveals that London goes from having the slowest rate of rental growth in England to the fastest.

The report reveals the number of homes bought by landlords dropped last year, this fall in purchases has meant a drop in the number of homes on the rental market.

Commenting Johnny Morris, Research Director at Countrywide, said: “Last year saw the rate of rental growth pick up to get closer to its long-term average.  Most of the rise comes from a pickup in rental growth in London, after falls in 2016.  Rents rose across every region of Great Britain last year, although the north of England saw rents rise at a slower rate than they did in 2016.

“Rental growth has been supported by a fall in the number of homes on the rental market, with the biggest fall in London.  It looks like increased competition between tenants for rental homes will drive faster rental growth in 2018.”

Read the Countrywide Plc Monthly Lettings Index report – December 2017 in full click here.

 

Allen Walkey

Highly experienced businessman with a successful career in property sales and investment both in the UK and abroad. Now a freelance writer and blogger for the property and Investment Industry, keeping readers up-to-date with changes and events in a rapidly changing world.

You May Also Enjoy

Love or Hate Rightmove
Breaking News

Average two-year fixed mortgage rate for 60% LTV now cheaper than five-year rate

The average two-year fixed mortgage rate for those with a 40% deposit (60% LTV) is now cheaper than the average five-year fixed equivalent, the first time this has happened since the mini-Budget The average two-year fixed, 60% LTV mortgage rate is now 4.18%, while the five-year equivalent is 4.19% The gap between average two-year fixed…
Read More →
Overseas Property

How UK Property Investors Can Manage Exchange Rate Risk When Buying Off-Plan Overseas

Off-plan purchases are especially common in developing overseas property markets with a high proportion of international investors. In these less mature markets, a significant share of stock is sold directly by developers, making off-plan transactions a natural sales model. These opportunities appeal to international buyers because they typically require less upfront cash due to extended…
Read More →
Breaking News

Foxtons Lettings Market Index – March 2025

London rental market gains momentum as new rental listings surge, Foxtons data shows   March saw a 14% increase in new rental listings across London compared to February Applicant registrations rose by 11% month-on-month in March. Year on year, demand was stable, tracking just 2% below March 2024 levels The average rent in March stood…
Read More →
Breaking News

UK’s mid-market firms show improved business growth in March but economic uncertainty continues

Key findings: NatWest’s Mid-market Growth Tracker shows improved business growth in March, led by a strong service sector performance SMEs register a softer decline in output levels during March Market conditions remain challenging and we could see continued challenges in the coming months   Mid-market businesses continued to outperform the wider UK economy in March,…
Read More →
Breaking News

ONS Private rent and house prices UK – April 2025

The Price Index of Private Rents (PIPR) measures private rent inflation for new and existing tenancies. The UK House Price Index measures house price inflation. Main Headlines Average UK monthly private rents increased by 7.7%, to £1,332, in the 12 months to March 2025 (provisional estimate); this annual growth rate is down from 8.1% in…
Read More →
Breaking News

Renters’ Rights Bill – what you need to know

The Renters’ Rights Bill is an extremely important piece of legislation for anyone who rents their home. For those in England (with some elements also covering Wales and Scotland), it represents one of the biggest changes in well over thirty years, and it’s important to be aware of what it might mean to you if…
Read More →