Average rents in the UK increased by 2% in the 12 months to April 2019
Average rents in the UK increased by 2% in the 12 months to April 2019, taking the average let to £936 a month, the latest lettings index shows.
When London is excluded, the average rent in the UK increased by 1.8% year on year to an average of £775, while rents in London increased by 1.8% to £1,617, according to the index from tenant referencing firm HomeLet.
The region with the largest year on year increase was the South East, up by 3.2% to £1,031 and of the 12 regions monitored by HomeLet, all showed an annual increase in rental values except the North East, which showed a decrease of 1.1% to £517.
The West Midlands saw the next biggest rise with rents up 2.9% to an average of £699, followed by 2.6% in the East Midlands to £635, a rise of 2.2% in Wales to £610, then 2.1% in the South West to £825.
Rents increased by 1.9% in the North West to £705 and by 1.8% in Northern Ireland to £639 and by 1.5% in Scotland to £663. In the East of England there was a more modest annual rise of 0.8% to £914 and just 0.5% in Yorkshire and Humberside to £628.
Month on month there was more of a mixed picture with rents down in April compared with March by 2.4% in the South West, by 1.5% in the North East and in the South East, by 1% in the North West, by 0.9% in Scotland.
There were also falls in Yorkshire and Humberside on a monthly basis, down by 0.4%, while rents also fell by 0.4% in the East if England. Rents fell marginally in the West Midlands and Wales by 0.3%.
However, on a monthly basis rents increased by 0.9% in Northern Ireland, by 0.5% in the East Midlands and increased by 0.2% in Greater London.
In London rents increased the most in Westminster, with an annual rise of 13.7%, followed by Chelsea, Fulham, Hammersmith and Kensington up 10.4%, then Enfield up 9.5%, Hounslow and Richmond Upon Thames both up 4.7% and Barnet up 4,1%.
On an annual basis rents fell by 5.7% in Kingston upon Thames, Merton and Sutton. Rents were down by 4.2% in Hackney and Newham, by 3.5% in Ealing, by 2.8% in Lambeth and by 2.3% in Croydon.
The lowest rents in London by borough are n Croydon at £1,136, followed by Barking, Dagenham and Havering at £1,234, then Kingston Upon Thames, Merton and Sutton at £1,259, Redbridge and Waltham Forest at £1,290, then Bexley and Greenwich at £1,332.
The borough with the highest rents in London is Westminster at £2,385, followed by Chelsea, Fulham, Hammersmith and Kensington at £2.071, then Camden and the City of London at £2,057, Lambeth at £2,054 and Tower Hamlets at £1,772.