Tuesday, 29 July 2014

Tenants in London are now paying twice as much as those across the rest of Britain

Average rents across the UK rose by 6.3% over the past year and now stand at £862 a month compared to £811 a year ago, the HomeLet Rental Index study found.

Tenants in the capital face average monthly rents of £1,412, compared to £694 for the rest of the UK once London is excluded, and saw prices soar 11.2% in the year up to June 2014.

Out of the country's 12 regions, only the North East of England and Scotland saw minor falls in rental prices, with year-on-year drops of 2.3% and 3.8% respectively.

As well as information on rental amounts, the HomeLet Rental Index also provides information on tenant demographics, such as their average age, income, previous residential status and property type they’re applying to live in.
HomeLet is one of the leading sources of support for the UK’s vibrant private rented sector. It is part of the Barbon Insurance Group and based in Lincoln. There are now more than 300 members of staff working hard every day to support letting agents, landlords and tenants.

They offer tenant referencing services plus Landlord Insurance and Tenant Insurance products. Find out more about these insurance products here.


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