The rise in rental costs
The average rent in the UK at the end of April 2022 was £1,091 pcm (per calendar month), up 9.5% on the same time last year and up 1.2% from March.
Positive annual and monthly change in rental prices have been recorded in every region. London has seen the highest increases: annual (14.2%) and monthly (1.9%).
After London, the regions which have recorded the highest annual rises are Scotland (12.3%), North West (11%) and South West (8.4%).
The cost-of-living crisis could put downward pressure on rental growth. Currently, the imbalance between supply and demand continues to be the force behind rent inflation.
Source: Dataloft, HomeLet
Striving to create perfection in an ever growing collection of beautiful properties.David Westgate, Group Chief Executive