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Rents are still rising, but at a slower pace

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The fact that rental price inflation is slowing may be cold comfort to tenants, after four months of hikes
Rents are still rising, but at a slower pace

Average rents across the UK rose by 0.9% in October compared to a year earlier, according to Homelet.

The tenant referencing business said this takes the average monthly rent to £909 and marks the fourth consecutive hike in rental price inflation.

October’s average increase reflects higher rents recorded in 11 out of the 12 areas of the country that HomeLet monitors, with the exception of the South East.

On an annual basis rental growth has slowed from 2% in September, a trend that was also reflected in the capital.

London falling

In London annualised rental price inflation was 0.6% in October, down from 1.8% and 2.5% in September and August.

The average tenancy agreed in London last month was £1,556.

HomeLet has also produced rental price data on every region, which is available on its online interactive infographic.

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