Rental growth accelerated in October, highest level since February according to Hamptons International
Latest Hamptons International Monthly Lettings Index – October 2018 headlines ‘Real rents fall in 6 out of 8 regions over the last decade’.
The Hamptons International report reveals that real rents (adjusted for inflation) have fallen by -2.2% in Great Britain since October 2008. This means that the average cost of living has risen more than average rents.
The average cost of a new let in Great Britain rose to £977 pcm in October as rental growth accelerated to 2.0% according to Hamptons International.
Commenting Aneisha Beveridge, Head of Research, Hamptons International, said:
“Real rents in Great Britain have been falling for the last 21 consecutive months. This comes as a result of sluggish rental growth and a post-EU referendum backdrop of rising inflation. However, this could be set to change as inflation begins to fade and rental growth starts to pick up pace. Currently the East and London are the only regions where real rents have risen over the last decade.
“Rental growth accelerated to 2.0% in October, the highest level since February. Every region recorded higher rents, with the East leading the way. Rental growth in London also picked up, driven by a 2.7% annual rise in Inner London rents.”
To read the Hamptons International Monthly lettings Index – October 2018 in full click here.