Average UK rent rises in 2015

A row of terraced housesAverage UK rents rose up to 3.8% in 2015, twice as fast as wages, latest research shows. This was largely due to the shortage of houses in market, which saw rental increases overtaking wages in most of the UK except the North East and North West, according to the monthly Landbay Rental Index. Average monthly rents ended 2015 with £1,286 in December 2015. ​

John Goodall, co-founder of Landbay, says: “Despite a small seasonal plunge towards the end of the year, rents rose considerably forward of wages in 2015. The fact that rents are outrunning wages is a clear mark of the shortage in properties to rent as large parts of the UK face a severe housing shortage. This is clear in London and the South East, along with large parts of the East Midlands and East Anglia, and it is most apparent for three-bedroom properties.”

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