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

Breaking News

Breaking Property News 13/2/26

Daily bite-sized proptech and property news in partnership with Proptech-X.   96% of proptechs fail to get to series A funding – here is why Thought Leadership by Andrew Stanton, CEO Proptech-PR The proptech sector has never been short of ideas. From AI-driven valuations and digital conveyancing to smart buildings and tokenised real estate, innovation in property…
Read More →
Breaking News

Landlords unprepared for the Renters’ Rights Act

Three quarters have made no preparations for the end of Section 21, despite major reforms taking effect from May 2026 New research from Inventory Base has revealed widespread lack of preparedness among UK landlords ahead of the first phase of reforms under the Renters’ Rights Act (RRA), due to come into force on 1 May…
Read More →
Breaking News

Why capital is staying in London despite a cooling housing market

By Joe Freedman, Head of Origination at ASK Partners London isn’t suffering from a lack of housing demand. It’s suffering from a failure to deliver. New data from Molior underlines the scale of that failure. Just 5,547 private homes broke ground across the capital last year, an 84% drop from a decade ago. Against an…
Read More →
Breaking News

The hidden risk of overvaluing your home when moving in today’s market

With many homeowners turning ambitious conversations into tangible moving plans, the start of the year traditionally marks a surge in activity, particularly for families planning for the future. While the property market remains fundamentally healthy, experts at Beresfords say overvaluing property is one issue that continues to undermine the progress of those looking to sell.…
Read More →
Rightmove logo
Breaking News

Rightmove launches next phase of AI-powered property search

Rightmove, the UK’s largest property platform, has launched a beta version of AI-powered conversational property search, as it continues to enhance its property search experience. In close collaboration with Google Cloud and built with Google’s Gemini models, conversational search is available via the property search bar on Rightmove’s website homepage. The latest move further expands…
Read More →
Breaking News

Should you break things off with your mortgage lender this Valentine’s Day?

As Valentine’s Day approaches, the latest research from award-winning mortgage adviser, Alexander Hall, has revealed that more than half of homeowners approaching the end of a fixed-rate mortgage are currently undecided on their relationship with their lender, despite notable improvements across the mortgage market over the last 12 months. The consumer insight, commissioned by Alexander…
Read More →