UK Rents are on the rise

October 22, 2019

Good news for Landlords following a recent report that rents are on the rise. Here at OneAgency Estate Agents, we have our fingers on the pulse to ensure that our Landlords have the correct information regarding their investment property.

UK rents are expected to climb by 15% over the next five years,as the supply of rental accommodation dwindles while demand from tenants continues to go up, according to a survey.

Rents are expected to increase by nearly 2% across the UK over the next 12 months, according to the latest survey from the Royal Institution of Chartered Surveyors (Rics).

Average UK rents rose between July and September but the average increase was below inflation, according to the Deposit Protection Service.

Average monthly rents in the UK increased by £7 (0.91%) to £778, less than half the 1.9% rise in inflation during the period.

Rents for terrace and semi-detached properties in Quarter 3 were the exception,rising above inflation with annual increases of over 4%.

Most UK regions experienced an increase in average rents, with those outside London averaging £676 – a marginal uplift of £3 on the previous quarter.

London is still the most expensive rental region in the UK, with the largest year-on-year growth of £43 (3.34%) and an average rent of £1,333.

On average, renters in the UK spend 32% of their wages on rent, the DPS said.

If you have a property to rent in Stoke-on-Trent why not contact our Lettings Director Aimee Hughes on 01782 970222 for information and advice on finding the right tenants for you.

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