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

Rightmove logo
Breaking News

New sellers lower prices in June, encouraging more to buy

New seller asking prices drop by 0.3% (-£1,277) this month to £378,240. This is an unusual dip for June, as new sellers lower their price expectations amid decade-high competition to secure buyers Some segments of the market are performing more strongly than others, with affordability and supply levels key: The higher-priced southern regions and the…
Read More →
Letting Agent Talk

How to Clean Your Rental Property for a Full Deposit Return

Although it is a dreadful chore, sprucing up your flat at the end of your tenancy is vital if you want your entire deposit back. When it comes to cleaning, landlords and property managers usually have high standards. Any oversight could cost you part of your initial payment. Having said that, your property can look…
Read More →
Breaking News

Two-year mortgage deals the lowest they’ve been since 2022 – but will they remain?

New research from Moneyfacts has shown that two-year mortgage deals are at the lowest they’ve been in two years and have also fallen to their biggest margin in over six months. The current average mortgage according to research is at 5.18%, having fallen by 0.14% in the past month. Meanwhile, five–year rates currently stand on…
Read More →
Letting Agent Talk

CP12 Landlord Certificates: What They Are and Why You Need Them

If you’re a landlord in the UK with gas appliances in your rental property, you’re legally bound to ensure they’re safe. That’s where the CP12 certificate for landlords enters the picture. Also called a Landlord Gas Safety Record, the certificate assures that your property’s gas installation is safe and in accordance with regulations. Yet, despite…
Read More →
Breaking News

Horse Guards Parade property prices up 17% since last Trooping the Colour

The latest property market analysis from London’s number one lettings and sales estate agency brand*, Foxtons, has found that it’s not just military prowess on show during Trooping the Colour this weekend, as house prices within the SW1A postcode, home to Horse Guards Parade, have soared by 17.3% over the last year, demonstrating the pedigree…
Read More →
Breaking News

What landlords need to know about the upcoming Renters Rights Bill

The government’s long-awaited Renters Rights Bill is one of the most significant overhauls of the private rental sector in decades. While it has not yet received royal assent, the legislation is expected to come into effect late this year, or early in 2026. With the bill moving closer to becoming law, Steven Bond, managing director…
Read More →