Annual rental growth slows down in August

OLYMPUS DIGITAL CAMERAAnnual rental growth has reduced from 3.8% and 3.5% to 3.1% in August which has now slowed down, according to the HomeLet’s Rental Index. Average UK rent now is over £910 per month, a sustainable up from the last year. The East of England saw the fastest annual rent growth among all of England.


Martin Totty, Barbon Insurance Group’s CEO, says: “The reports shows that the landlords are aware of the tenants’ concern of affordability and are also conscious in achieving the target. August figures suggest that rents are continuing to rise at a sustainable rate ahead of price inflation. In the following term, the primary force to drive rents will be the balance between demand and supply for rented property. As there are expectations that demand in the private rental sector to continue to grow, in line with affordability concerns remain in the house purchase market, so it is important that to support supply.”


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