Rental growth picks up across Great Britain in April according to Hamptons International

May 15, 2018

Latest Hamptons International Monthly Lettings Index – April 2018 reveals that in April the average cost of a new let in the North fell for the first time in four years. The average cost of a new let reached £953 pcm in Great Britain in April, 1.9% up on the same period last year.

Average rents in the North fell -0.3% in April compared with the same period last year – the first year-on-year fall since June 2014. the average cost of a new let in the South rose to £1,372 pcm in April, 2.2 times more than the average rent in the North (£622 pcm) according to Hamptons International.

Commenting Aneisha Beveridge, Research Analyst at Hamptons International, said:

“Low stock levels in the South continue to drive rental growth as tenants compete for fewer available homes.  Since April 2016, the month the stamp duty surcharge was introduced for second homeowners, landlords across Great Britain have sold 88,000 more homes than they bought.  But landlords are finding new ways to maximise their returns by purchasing properties elsewhere, particularly further North in search of lower stamp duty bills and higher yields.

“Across Great Britain rental growth picked up last month to 1.9%, with the East being the top performing region (3.6%).  London has seen a reversal of fortunes with rental growth averaging 2.7% so far this year compared to -2.0% in the same period last year.  This growth has been driven by inner London with average rents rising 4.1% so far this year.”

Source of information Hamptons International.

From May 2018, the Countrywide Lettings Index has been re-branded the Hamptons International Monthly Lettings Index.

Hamptons International, part of the Countrywide Group, will continue to run the lettings index.  The methodology and time series remain the same.  The index has been running since 2012.  From May 2018 the index will include an inner and outer London split.

 

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

Kerb appeal
Estate Agent Talk

Why November and December are the best and most affordable months to buy

Buyers and sellers looking for the right time to move can consider top reasons from property experts to start the process this November and December. The autumn and winter months may not be the first that come to mind when considering a move, but potential buyers and sellers can be reassured by the experts that…
Read More →
Breaking News

Farmers protest outside Westminster today in anger at the IHT ongoing debate – expert legal view

With today’s news about farmers set to protest outside Westminster in anger at the IHT ongoing debate, Tom Gauterin, Director at national law firm Freeths, said: “Although it is good to hear Mr Reed last week suggest that the Government is listening to farmers, today’s protests would suggest otherwise with the extent of their concerns…
Read More →
Love or Hate Rightmove
Breaking News

Bank Rate cuts boost optimism for 2025 despite Budget pause

Average new seller asking prices drop by 1.4% (-£5,366) this month to £366,592, a bigger fall than the usual, seasonal 0.8% drop seen at this time of year, likely due to pre- and post-Budget jitters However, despite the dampening effect of the Budget, market activity remains stronger than last year as Bank Rate falls: The…
Read More →
Breaking News

How to market to Estate Agents UK

The UK’s property sales and letting industry is quite sizable in both volume of work and those employed within. Some 25 million dwellings in England alone exist and there were estimated to be approximately 55,500 estate agents working in the United Kingdom as of the second quarter of 2024. Up and down the country, in…
Read More →
Letting Agent Talk

Preventative Measures to Reduce the Risk of Emergencies in a Rental Home

Ensuring that a rental home is safe and well-maintained is essential for both landlords and tenants. Emergencies in a rental property can lead to significant stress, financial loss, and potential damage. However, by implementing preventative measures, landlords and tenants alike can reduce the risk of emergencies and create a safer living environment. This guide provides…
Read More →
Estate Agent Talk

Understanding the Metrics Used by Estate Agents to Determine Your Home’s Worth

Determining the value of a property can sometimes feel like a complex process shrouded in mystery. However, understanding the various metrics and considerations that estate agents use to assess your home’s worth can demystify the process and empower you as a homeowner. This blog will provide a comprehensive guide to the key factors estate agents…
Read More →