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Fantastic news for landlords, adverage rental values are 10.2% higher than a year ago

 

The latest Homelet rental index that is formed from data gathered from around 350,000 tenants each year shows:

  • In the first quarter of 2015, average rental values for new tenancies in the UK were 10.2% higher than the same period last year
  • The annual growth in average rental values for the first quarter of 2015 (10.2%) was higher than quarter one 2014 (4.9%) and quarter one 2013 (3.6%)
  • In the first quarter of 2015, average tenant incomes were 1.9% higher than the same period last year
  • Average rents for new tenancies in London are 8.4% higher than the same period last year
  • Average rental values for new tenancies in London (£1,443pcm) were £112 more expensive per month when compared to average rental values in the same period in 2014 (£1,331pcm)
  • When London is excluded, the average UK rental value in March 2015 was £733pcm - this is 8.4% higher than the same period last year (£676pcm)
  • In the first quarter of 2015, average rental values have increased in eleven out of twelve regions in the UK

 

Monthly change in UK adverage rental prices for new tenancies:

 1

The figures also show…

  • The average UK rent for tenancies in March 2015 was £918pcm, this is 10.5% higher than March 2014 (£831pcm)
  • When London is excluded, the average UK rental value was £733pcm which is 8.4% higher than March 2014  whne the value was £676pcm
  • All regions, apart from Wales, saw an increase in average rental values in the first quarter of 2015, compared to last year. Wales has seen a reduction of 1%
  • Greater London, South East, South West and West Midlands have seen continuing increase in rental values over the last 12 months

Rental values and tenant incomes in quarter one

Average UK rental amounts in quarter one, with annual comparisons

 2

Annual UK tenant income in quarter one, with annual comparisons

 

The figures also show:

  • In quarter one 2015, average rental values for new tenancies were 10.2% higher than the same period last year (£902pcm compared to £819pcm)
  • The annual growth in average rental values for quarter one 2015 (10.2%) was higher than quarter one 2014 (4.9%) and quarter one 2013 (3.6%)
  • In quarter one 2015, average tenant incomes were 1.9% higher than quarter one 2014

(Source : http://homelet.co.uk/homelet-rental-index)

UK Regional breakdown

The regional map shows the monthly and annual changes in agreed rental amounts for each region of the UK. 

regional rental data image 1

All rental amounts are an average taken over the three months preceding the date shown

 

 

regional rental 3 month data

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