Latest HomeLet Rental Index figures have just been released

HomeLet one of the major UK Landlord and Tenant rental insurance companies has just released the August Rental index.

According to their press release -

Rents across the UK continued to rise during August, with this year’s trend of modest inflation continuing, according to the August  Rental Index.

Tenants signing up to a new tenancy during August agreed to pay an average rent of £913 a month, a 3.1 per cent increase on the same month of 2015. 

The pace of rent rises, while sustainable, is moderating. The 3.1 per cent recorded in August is comparable to annual increases of between 3.5 and 3.8 per cent over the previous four months. By contrast, annual rental inflation was running at close to 6 per cent this time last year.

The August 2016 HomeLet Rental Index reveals that rents continue to rise in almost every area of the country, with 11 out of the 12 regions surveyed recording an increase over the year to the end of August. 

Nevertheless, HomeLet’s regional trend analysis suggests that rental inflation has been more variable in certain areas of the country than others. London and the South-East in particular saw a larger dip in the pace of rent rises during March and April this year, at a time when buy-to-let investors were purchasing properties in larger numbers ahead of higher stamp duty rates that came into force at the beginning of the 2016-17 tax year. View the full release here 

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