House rents increasing by 5% a year – the highest rate since 2008

Zoopla’s most recent UK Rental Marker Report indicates that the UK rental sector excluding London is experiencing a surge in demand, with average monthly rent now sitting at £943. Annual rental growth is at 5%, its highest level since 2008. The rise is believed to be the result of people returning to work in towns and students returning to universities. Rental demand is higher than supply, with demand up 19% compared with this time last year and supply down 13%. Investments in buy-to-let properties have experienced a decline since the introduction of the additional 3% stamp duty back in 2016, which is contributing to the pressure on rent levels. The stock of rental properties is expected to remain low nationally for the foreseeable future.

Source struttandparker

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