Rental growth in the private sector both nationally and in London has overtaken price growth in the sales market.
Nick Barnes, Head of Research
Average UK rental values for new tenancies in the three months to January were 8.9% higher than in the corresponding period last year according to Homelet. Average UK rents now stand at £878 per calendar month.
Homelet report that average rents for new tenancies in London were 13.4% higher in January compared to the corresponding month in 2014 and now stand at £1,425 per calendar month.
NB comment: rental growth in the private sector both nationally and in London has overtaken price growth in the sales market. The private rented sector is arguably as much in need of more available stock as the sales market.
London borough monthly asking rents for 2-bedroom flats (as at 9 Mar 2015) Source: Zoopla