Rent rises: Edinburgh jumps while London edges up
London rents grew at a slower pace than the rest of the UK in April, dragging down the average despite large rises in areas such as Edinburgh and Nottingham.
While London areas such as Islington, Wandsworth and Southwark all witnessed a rise in rent by more than one per cent in April, across the capital average rents edged up by a modest 0.66 per cent.
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Average rents in the capital sttod last month at £1,906, compared with the nationwide figure of £1,218.
Scotland had the UK’s highest year-on-year growth for landlords, with rents in Edinburgh and Glasgow jumping 5.44 per cent and 2.59 per cent respectively.
In England, Nottingham boasts the highest rate of rental growth at 3.84 per cent, according to the new research from the latest Landbay Rental Index.
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"Landlords can rest assured that there is decent rental growth to be found across the UK, particularly if they look north of London. On the face of it, landlords have had a tough time in the past few years, from increased regulatory pressure to a significant increase in stamp duty costs, yet they have managed to shoulder many of these costs without passing them onto tenants," said John Goodall, boss and co-founder of Landbay.
He added: "For tenants, wage growth hitting a new decade high should be welcome news. This improvement in affordability should help renters and would-be buyers alike."