7.5% Annual Increase In Rents

Posted on: 12 October 2021

7.5% Annual Increase In Rents
  • July to September is the busiest quarter of the year for the rental market. In a normal year, 32% of tenancies start in quarter 3. This is likely to be higher in 2021, as students and workers return to cities.

 

  • It is, therefore, no surprise that the UK average monthly rent has seen an annual increase of 7.5% and is higher than pre-pandemic levels.

 

  • Wales has seen the largest annual increase in monthly rent, 12.9%, followed by Scotland, 10.5%, and the East Midlands, 8.4%.

 

  • Rental growth forecasts for the next 12 months are slightly above 3%. Over the next five years, rents are forecast to increase by 4% per annum across the UK (RICS). Source: Dataloft, HomeLet, Royal Institute of Chartered Surveyors.

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