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Research & insight article

Chrome February 2015 - Rental values

rental values

Average rents for new tenancies in London fell by 1.1% in December.

Nick Barnes, head of Research

Stormy Cloudy Settled Fair Fine

The latest Homelet Rental Index reports that in the three months to December 2014, average rental values for new tenancies in the UK were 7.6% higher than in the same period in the previous year. 

Average rents for new tenancies in London fell by 1.1% in December to stand at £1,393 pcm but were 12% higher than in December 2013. 

NB comment: the rising population in London combined with a sales market which is beyond the financial means of a large proportion of households means that tenant demand in the mainstream private lettings market is robust, resulting in continued upwards pressure on rents. The prime segment has also stabilised following a difficult period for much of last year and some submarkets are seeing a return to rental growth.

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Nick has more than 20 years’ experience within the property research arena.

Nick Barnes

Nick Barnes

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