HomeLet Rental Index August
HomeLet Rental Index out today headlines ‘Rental growth sustained across UK during August’
The report leads by stating: Rents rose at a modest pace during August, up by an average of 3.1 per cent year-on-year, across the UK as a whole.
Commenting on the report, Martin Totty, Barbon Insurance Group’s Chief Executive Officer, said: “The latest HomeLet Rental Index reflects a private rental market in which landlords are engaged in a delicate balancing act: they’re acutely aware of tenants’ concerns about affordability while also conscious of the need to achieve their target yields against a backdrop of rising costs. August’s figures suggest that rents are continuing to rise at a sustainable pace – ahead of price inflation, but well below house price increases, which were running at close to 6 per cent according to the most recent data.
“In the medium to longer term, the fundamental driver of rents will be the balance between demand and supply for rented property. We expect demand in the private rental sector to continue to grow, in line with demographic changes such as population growth, and as affordability concerns remain in the house purchase market, so it is important that we see efforts to support supply.”
To read the HomeLet Rental Index report in full click here
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