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


November 2014 headlines...

  • In the three months to November 2014, average rental values for new tenancies in the UK were 7.9% higher than the same period last year
  • The annual growth in average rental values for the three months to November 2014 (7.9%) was higher than 2013 (4.4%), 2012 (3%) and 2011 (4.4%)
  • In the three months to November 2014, average tenant incomes were 7.3% higher than in 2013
  • Average rents for new tenancies in London have reduced by 0.2% since last month but are still 11% higher than the same period last year
  • Average rental values for new tenancies in London (£1,408pcm) were £140 more expensive per month when compared to average rental values in November 2013 (£1,268pcm)
  • When London is excluded, the average UK rental value was £702pcm – this is 4.1% higher than last year (£674pcm)

November 2014 monthly change in UK rental prices

Monthly change in UK rental prices for new tenancies 

1892 Nov HRI v2 2

The figures also show…

  • The average UK rent for tenancies starting in November 2014 was £874pcm, this is 8.3% higher than November 2013 (£807pcm)

  • When London is excluded, the average UK rental value was £702pcm - this is 4.1% higher than last year (£674pcm)

  • Most regions saw an increase in average rental values, compared to last year, particularly Scotland (11.7%), which has also seen a significant increase between October and November this year

  • Greater London (11%) and West Midlands (8.7%) have also seen an increase compared to last year, both have seen continuing increase in rental values over the last year

  • Average rents dropped by 3.6% in North West, when compared to last year; this is the first time in 8 months. Other regions to see reductions when compared to last year are the North East by 2.5% and Wales by 2%

Rental values and tenant incomes in the three months to November
Average UK rental amounts over the last three months, with annual comparisons

1892 Nov HRI v2 3 1

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

1892 Nov HRI v2 3 2

The figures also show… 

  • In the three months to November, average rental values for new tenancies were 7.9% higher than the same period last year (£890pcm compared to £825pcm)
  • The annual growth in average rental values for the three months to November 2014 (7.9%) was higher than 2013 (4.4%), 2012 (3%) and 2011 (4.4%)
  • In the three months to November 2014, average tenant incomes were 7.3% 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

 


Media Enquiries

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