The data included in the HomeLet Rental Index is gathered from our tenant referencing service. The rental amounts are based on the actual achieved rental prices for new tenancies in the reported month.
As well as information on average rental amounts for new tenancies, 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.
Read our latest press release: HRI data reveals UK Rental Market hotspots
December 2015 headlines...
- When London is excluded, the average UK rental value was £739pcm - this is 4.9% higher than the same period last year (£704pcm)
- Average rental values have increased in ten out of twelve regions in the UK, compared to the same period last year
- The North West (-5.1%) and Northern Ireland (-0.6%) have seen a continued reduction in rental values over the last four months
- Average rents for new tenancies in London are 8% higher than the same period last year
- Rents in London are now 106% higher than the rest of the UK
View the latest report
Average rental values
Annual variance in average rent for Greater London and the UK (excluding Greater London)
It’s interesting to note…
- The average UK rental value, excluding London, was £739pcm - this is 4.9% higher than last year (£704pcm)
- In 2015, annual growth in rental values in Greater London slowed from a peak of over 12% in January to 6% in September
- In contrast, the rest of the UK saw an increase in average rental values throughout the spring and summer months of 2015
- Average rental values have dropped in the North West (-5.1%) and Northern Ireland (-0.6%); both regions have seen a continued reduction in rental values over the last four months
Average rental values with annual comparison
UK excluding Greater London
The figures also show…
- The annual growth in average rental values in the UK, excluding London (5%), was higher than 2014 (3.7%) and 2013 (2.3%)
- The annual growth in average rental values in Greater London (8%) was lower than 2014 (10.7%)
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Find out more about the latest HomeLet Rental Index
HomeLet Rental Index provides a comprehensive and up to date data on new tenancies in the UK. As part of the referencing process for around 350,000 prospective tenants each year, HomeLet processes information including the rental amounts agreed, the number of tenants moving into the property together with the employment status, income and age of all tenants. The trends reported within the HomeLet Rental Index are brand new tenancies which were arranged in the most recent period, giving the most relevant insight into changes in the Private Rented Sector. This is in contrast to many other rental indices which are based on all properties which are being managed, which may have had rental amounts agreed as long ago as 2 years.
The data used in the HomeLet Rental Index is aggregated to local authority, county, city and regional level only. This ensures that all property or individual records remain strictly anonymous.
Regional rental prices
The HomeLet Rental Index includes a regional map which shows the monthly and annual changes in agreed rental amounts for each region of the UK.
> View the regional rental map
Rents in London
Each month the HomeLet Rental Index focuses on Greater London to provide an insight into activity within the Private Rented Sector in the Capital.
> View Greater London headlines
> View rents by area in Greater London
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