Tenants renting their homes for long term.

The latest findings from the HomeLet Rental Index reveal that over the three months to October the cost of a tenancy outside of London rose by 3.5 per cent when compared to last year. Whilst this level of growth for new tenancies continues to outstrip the rate of inflation, this is much lower than the peaks seen just a few months ago when rents were up by over 8%.

When London is excluded, the average UK rental value was £749pcm – this is 3.5 per cent higher than the same period last year (£724pcm)

However, the annual rate of growth in rental values for the UK, excluding London, has continued to slow since the July peak of 8.1%

Average rents for new tenancies in London are 7.5 per cent higher than the same period last year

Average rental values in London have reached £1,560pcm, so rents in the Capital are now 108 per cent higher than the rest of the UK

Our survey of almost 15,000 tenants reveals that while 71 per cent are keen to buy their homes, 64 per cent expected to continue renting for an extended period

The latest HomeLet Rental Index is published alongside new research into tenants’ views about the rental market, conducted by HomeLet in October 2015. The research reveals that a large proportion of tenants are renting their homes for the long term and that they value relationships of trust with landlords and letting agents.

The HomeLet  rental Index and report in full: http://www.homelet.co.uk/news/article/tenants-look-to-prs-for-the-long-term

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

Love or Hate Rightmove
Breaking News

Rightmove 2024 forecast: prices to drop by 1% as competition increases among sellers

Rightmove predicts that average new seller asking prices will be 1% lower nationally by the end of 2024, as the market continues its transition to more normal levels of activity following the frenetic post-pandemic period.  Motivated sellers are likely to have to price more competitively to secure a buyer in 2024, and agents will work…
Read More
Estate Agent Talk

Pflugerville, TX: Emerging Trends in New Home Construction

The Rise of Sustainable Living in Pflugerville Nestled in the heart of Texas, Pflugerville is witnessing a significant shift towards sustainable living in new home construction. Builders and developers are increasingly focusing on eco-friendly materials and energy-efficient designs. This trend is not just a nod to environmental consciousness but also a response to the growing…
Read More
Home and Living

How to Choose the Best Shower Cabin For Your Budget

If you are looking for the best shower cabin to fit your budget, then allow us to be a guide on this shopping adventure! Whether you’re looking to invest in something luxurious and timeless or something more affordable and modern, it can be daunting knowing where even to start. Fortunately, we have all the key…
Read More
Breaking News

Breaking Property News – 01/12/2023

Daily bite-sized proptech and property news in partnership with Proptech-X. Full material Information Guidance B & C published by NTSELAT all you need to know New guidance for sales and letting agents covers all three phases of programme Aim is to help agents to meet their existing legal requirements under the CPRs Material information guides…
Read More
where to hide cash at home

A Practical Guide To Smart Decision-Making While Investing

Investing is a financial concept that involves an intricate balance of grasping basics, strategy, and foresight, which takes place within the vast and ever-evolving financial environment. A wise investor must navigate their way through various choices. The following is a guide that gives basic and practical approaches to wise decision-making in investment. With this understanding,…
Read More
Home and Living

Navigating a Move with Your Baby: 7 Sanity-Saving Tips

Moving to a new home can be exciting and stressful, and adding a baby to the mix becomes a whole new adventure. Babies require extra attention and care during a move, but with some thoughtful planning and a few sanity-saving tips, you can make the transition smoother for you and your little one. In this…
Read More