The average cost of renting a home in the UK increased by 7% since April 2013 – the largest annual increase for three years. The April 2014 HomeLet Rental Index shows tenants across the UK are now paying an average of £848 per month.
Other headlines from this month’s report show:
- Greater London saw monthly and annual increases in average rents of 2.4% and 9.4% respectively to £1,348 per month – the highest amount on record
- Wales was home to a fourth consecutive monthly decrease in average rental amounts. After decreasing by 2.6% during April, it now costs an average of £565 per month to rent a home in the region
- Average rental amounts in the West Midlands increased by 1.7% during April to £602 per month – the region’s first rise in rents this year
- The average amount a tenant in the UK earns increased by 5.9% during the past 12 months to £29,100 per annum
You can view a summary of this month’s HomeLet Rental Index on the Rental Index pages of our website.
If you would like to see the full report, which this month focuses on the South West, or would like to receive the HomeLet Rental Index every month, just email our Marketing team.