Rents Edging up Across Britain

Average rents for newly-let property across Great Britain rose to £954 per month in August, reflecting a 1.6 per cent annual increase according to Countrywide.

Rents increased the most in the South West - up 4.7 per cent - and they rose 2.8 per cent in Scotland and 2.5 per cent in the East of England; London rents grew for the second consecutive month and are now up 1.8 per cent year-on-year.

Countrywide’s research director Johnny Morris says: “Rents rose in all regions across Great Britain to stand 1.6 per cent up on the same time last year.”

“The number of landlord purchases continues to remain low which is feeding through into fewer homes on the rental market. Rents in London rose for the second consecutive month, driven by a pickup in rents in outer London.”