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

Home and Living

Signs of Outdated Wiring in Older Tulsa-Area Homes

Tulsa has a lot of beautiful older homes. Brookside bungalows, Maple Ridge tudors, the postwar neighborhoods that fill out Midtown and East Tulsa. They were built well, but most were built before central air, before microwaves, before two-car households with two laptops and a dozen phone chargers. The electrical systems inside them were designed for…
Read More →
LIVING BY THE SEASIDE 2022
Breaking News

Britain’s seaside price hotspots revealed

New analysis from the UK’s largest property platform Rightmove reveals Britain’s seaside hotspots where prices are rising the fastest Bootle in Merseyside leads the way, with average asking prices up 11% year-on-year, followed by Crosby in Liverpool (+9%) and Penarth in South Glamorgan (+9%) Other coastal locations including Llantwit Major in South Glamorgan (+8%) and Llanelli, in Carmarthenshire (+7%) are also seeing strong price growth Average asking prices are currently 0.3% lower in Great Britain compared to last year, with some seaside hotspots outpacing the…
Read More →
Estate Agent Talk

Hertfordshire emerges as strongest performing London commuter county

New research from UK Property Development reveals that while London property prices fell by more than -3% in the past year, prices in some of the capital’s surrounding counties have enjoyed positive growth, none more so than the premium commuter county of Hertfordshire.   In the past year, London’s average house price has fallen by…
Read More →
Estate Agent Talk

Second homes losing appeal among the rich

New Survey Reveals Ongoing Maintenance Is the Biggest Barrier to Second Home Ownership   62% say upkeep and hassle would stop them from buying a second home, even if money were no object   A new survey conducted by luxury co-ownership platform Equity Residences has revealed that the practical realities of owning a second home…
Read More →
Letting Agent Talk

How to build a property portfolio with buy-to-let mortgages

One of the reasons property is such a popular asset choice for investors is that you don’t need to invest all the money yourself; you can leverage funds from the bank. Here’s a very simplistic example of how borrowing via a buy-to-let (BTL) mortgage allows you to multiply your returns versus owning a property all-cash:…
Read More →
Home and Living

2026’s Fastest-Growing Bathroom Trend Is the Wet Room

“Wet rooms have become one of the standout bathroom upgrades of 2026, moving from luxury extra to everyday renovation choice as more homeowners prioritise space, style and easy cleaning. The momentum is only building as spa‑style bathrooms stay in demand.” “Wet rooms used to be a niche request,” says Ant Langston, Marketing Manager at Heat…
Read More →