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: Tenants look to PRS for the long term
October 2015 headlines...
- When London is excluded, the average UK rental value was £749pcm - this is 3.5% higher than the same period last year (£724pcm)
- However, the annual rate of growth in rental values for the UK, excluding London, was marginally higher last year at 3.9%)
- Average rental values have increased in nine out of twelve regions in the UK
- Average rents for new tenancies in London are 7.5% higher than the same period last year
- Average rental values in London have reached £1,560pcm, so rents in the capital are now 108% higher than the rest of the UK
- Average tenant incomes were 1.7% higher than the same period last year
View the latest reports
Change in UK three month average rental prices
It’s interesting to note…
- The average UK rent for tenancies was £997pcm, this is 9.7% higher than the same period last year (£909pcm)
- When London is excluded, the average UK rental value was £749pcm - this is 3.5% higher than last year (£724pcm)
- Average rental values have dropped in the North West (-4.9%), East Anglia (-1.2%) and Northern Ireland (-2.1%)
Rental values and tenant incomes in the three months to October
Average UK rental amounts over the last three months, with annual comparisons
Annual UK tenant income over the last three months, with annual comparisons
The figures also show…
- The annual growth in average rental values in the UK (9.7%) was higher than 2014 (7.7%) and 2013 (4.9%)
- Average tenant incomes in the UK were 1.7% higher than 2014
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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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