Rents to remain flat into 2016

December 10, 2015

According to the latest figures released by HomeLet, their Rental Index reveals that rents on new tenancies agreed over the three months to November fell in most areas of the country.

November HomeLet Rental Index shows rents on new tenancies remained flat or fell in 10 out of 12 regions of the UK over the three months to November 2015.

91% of landlords do not plan to raise rents on existing tenancies during the first six months of 2016 according to HomeLet research.

Rents on new tenancies across the UK (excluding London) now average £743 a month, 3.8 per cent higher than a year ago.

Rents on new tenancies in London now average £1,544 a month, 7.5% higher than a year ago and 108% higher than the rest of the UK.

For full report visit: HomeLet Rental Index

 

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

Industry Response to the Spring Statement

Following on from the Spring Statement, here are some thoughts from the Industry. Rightmove’s property expert Colleen Babcock: “It’s extremely disappointing that the government have not used the Spring Statement as an opportunity to extend the impending Stamp Duty deadline for those currently going through the home-moving process. We estimate over 70,000 buyers are going…
Read More →
Breaking News

Leaders Response to the Spring Statement

Michael Cook, Chief Executive Officer of Leaders Romans Group Given the challenge of making £15 billion worth of cuts to public spending, today’s Spring Statement was never going deliver everything on the property industry’s wishlist. That said, two significant pieces of good news stand out amongst some otherwise depressing statistics. And this goes to show…
Read More →
Breaking News

Spring Statement ‘Sweetener’ or Legal Headache? Lawyer Weighs In

Daniel McAfee, Head of Legal Operations at Lawhive and a UK lawyer, exploring the legal implications of the affordable housing investments. UK lawyer says “While this initiative will provide housing stability for thousands of families, many more will continue facing uncertainty.  “This ongoing pressure frequently leads to interconnected legal needs, from family law matters exacerbated…
Read More →
Breaking News

ONS house price index – Thoughts from the Industry

On Sales: Jean Jameson, Chief Sales Officer at Foxtons: “February built on January’s strong momentum, with sales outperforming last year and market confidence holding steady. First-time buyer demand remained resilient, despite the fact that anyone buying now is unlikely to complete in time to benefit from the stamp duty relief—suggesting the incentive may not be…
Read More →
Breaking News

Private rent and house prices, UK: March 2025

Average UK monthly private rents increased by 8.1%, to £1,326, in the 12 months to February 2025 (provisional estimate); this annual growth rate is down from 8.7% in the 12 months to January 2025. Average rents increased to £1,381 (8.3%) in England, £785 (8.5%) in Wales, and £998 (5.8%) in Scotland, in the 12 months…
Read More →
Breaking News

London rental market remains stable in early 2025

Foxtons Lettings Market Index – February 2025 London rental market remains stable in early 2025 as demand and supply hold steady, Foxtons data shows The average rent now stands at £557 per week, slightly higher than in 2024 Applicant demand has remained within 3% of February 2024 levels Supply levels remain strong, with new listings…
Read More →