Average London rents jumped last month
The average rent in London rose to £1,665 last month, according to a report released today.
The average rent in the UK grew 2.7 per cent to £953 on the same time last year.
Average rents in London grew 2.8 per cent to £1,665, according to the report from tenant referencing firm Homelet.
Read more: London house prices suffer UK’s biggest September drop
Nationwide’s house price index for October said that annual house price growth remained subdued in October, growing 0.4 per cent, with Brexit uncertainty cited as a factor.
When London is excluded, the average rent in the UK hit £788 in October, up by 2.6 per cent on the previous year.
All 12 of the regions monitored increased in rental values between October 2018 and October 2019.
Read more: How London boroughs’ house prices have changed since the last election
Five of the regions monitored by Homelet showed an annual increase of over three per cent – the north east, north west, Yorkshire and Humberside, the south west and Scotland.
The region with the largest year-on-year increase is the north east, showing a 4.5 per cent increase between October 2018 and October 2019.
A report released this week by mortgage broker SPF Private Clients showed house prices in London fell 0.4 per cent in September.
House prices increased one per cent on average in England.
Pictured credit: Getty