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. 

Read our latest press release: Lowest growth rate in London rents for two years


January 2016 headlines...

  • When London is excluded, the average UK rental value was £740pcm - this is 5.5% higher than the same period last year (£702pcm)
  • Average rental values have increased in eleven out of twelve regions in the UK, compared to the same period last year
  • The North West (-3.4%) has seen a continued reduction in rental values over the last 7 months
  • Average rents for new tenancies in London are 6.2% higher than the same period last year
  • London has seen the lowest annual growth rate (6.2%) since March 2014
  • Rents in London are now 104% 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) 

HOM RENTAL INDEX JAN CHART1sm

It’s interesting to note…

  • The average UK rental value excluding London was £740pcm - this is 5.5% higher than last year (£702pcm)
  • Greater London has seen the lowest annual growth rate (6.2%) since March 2014
  • The rest of the UK has seen an increase in annual growth rate over the last 4 months
  • Outside London, the highest levels of annual increase have been seen in South East (7.2%), East Midlands (6.8%), South West (5.8%) and East Anglia (5.2%)
  • The North West (-3.4%) has seen a continued reduction in rental values over the last 7 months

Average rental values with annual comparison
UK excluding Greater London

 HOM RENTAL INDEX JAN CHART2sm

Greater London

HOM RENTAL INDEX JAN CHART3sm

The figures also show… 

  • The annual growth in average rental values in the UK excluding London (5.5%) was higher than 2015 (3.3%) and 2014 (2.2%)
  • The annual growth in average rental values in Greater London (6.2%) was lower than 2015 (12.6%)

 


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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 


Enquiries

For information regarding the HomeLet Rental Index please email rentalindex@homelet.co.uk

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