Rents continue to rise across UK in June
Homelet, one of the leading sources of support for the UK’s vibrant private rented sector, today released their Rental Index with the headlines ‘Rents across the UK continued to rise in June’.
They stated:
Rents continue to rise over three months to June 2016, though at a slower pace in line with the trend over the first half of the year.
Landlords conscious of tenant affordability but demand from population growth is strong.
Average rent in the UK (excluding Greater London) is now £773 per month, 3.5% higher than a year ago; average rent in London now £1,575, up 3.9%.
Martin Totty, Chief Executive Officer of Barbon Insurance Group commented: “The June HomeLet Rental Index shows that the rental market remains resilient in the face of the various economic and political headwinds the sector has faced recently. Landlords are continuing to secure rental growth whilst there are some early signs of affordability criteria beginning to bear on the rates of rental price growth”
“The impact of the EU referendum vote will now play out over the months ahead: if, as expected, the result acts as a restraint on the supply of new housing, the gap between demand and supply in the private rental sector will remain marked; all the more so if more people decide to rent while waiting to see what happens to house prices. more….
To read the Homelet Rental Index report in full click here
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Applicant budgets remain stable and rental prices in line with historic norms
