HomeLet Rental Index

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.

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. 

View the latest report


September 2014 headlines...

  • In the three months to September, average rental values for new tenancies in the UK were 8.2% higher than the same period last year
  • The annual growth in average rental values for the three months to September 2014 (8.2%) was higher than 2013 (5.3%), 2012 (2.5%) and 2011 (5.9%) 
  • In the three months to September 2014, average tenant incomes were 4.1% higher than in 2013
  • Average rents for new tenancies in London reached a record £1,466pcm in September 2014, this is 9.6% higher than the same period last year 
  • Average rental values for new tenancies in London (£1,466pcm) were £128 more expensive per month when compared to average rental values in September 2013 (£1,338pcm)
  • When London is excluded, the average UK rental value was £728pcm - this is 4.6% higher than last year (£696pcm)

 

September 2014 monthly change in UK rental prices

Monthly change in UK rental prices for new tenancies 

Monthly rental amount

The figures also show…

  • The average UK rent for tenancies starting in September 2014 was £918pcm, this is 8.2% higher than September 2013 (£854pcm)
  • When London is excluded, the average UK rental value was £728pcm - this is 4.6% higher than last year (£696pcm)
  • Average rents dropped by 1.8% in Wales, when compared to last year, this is the first time in 11 months. Other regions to see reductions when compared to last year are the East Midlands by 1.2%, the North East by 0.6% and Scotland by 0.2%
  • All other regions saw an increase in average rental values, compared to last year, particularly East Anglia (11.3%), where rental values have increased for 11 consecutive months, and Greater London (9.6%) which has seen a continuing increase in rental values.
Rental values and tenant incomes in the three months to September
Average UK rental amounts over the last three months, with annual comparisons

Average monthly rents

Annual UK tenant income over the last three months, with annual comparisons

Average anual income

The figures also show…

 

  • In the three months to September, average rental values for new tenancies were 8.2% higher (£913 compared to £844) than the same period last year
  • The annual growth in average rental values, for the three months to September 2014, (8.2%) was higher than 2013 (5.3%), 2012 (2.5%) and 2011 (5.9%)
  • In the three months to September 2014, average tenant incomes were 4.1% higher than 2013

 

 


Find out more about the latest HomeLet Rental Index

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

Which postcodes fall in each region?

The HomeLet Rental Index includes data from across the country and we provide high level regional breakdowns to indicate how rents are performing in that particular area of the country. Click below to find out which postcodes go where...
> Find out more


Media Enquiries

For media enquiries relating to the HomeLet Rental Index please email mediaenquiries@homelet.co.uk