Home » The Rising Lettings Market

Rightmove released their quarterly Rental Trends Tracker on Friday and gives a national picture of rental prices over the last few months. They also look at rental trends over the last 10 years.

Here are some of the highlights:

  • London asking rents hit a new record average of £2,119 per calendar month as ongoing lack of supply means rents are 4.2% higher year-on-year. The rest of Great Britain is up 2.4%.
  • Over the past 10 years London asking rents have risen almost twice as fast as the rest of Great Britain:
  • Average asking rents outside London have risen by 24%, compared to 45% in the capital.
  • In cash terms London asking rents are up by £658 per month compared to £159 per month outside London over the last decade.
  • North East rents have grown the slowest, up 8.4% from £554 to £601 per month in ten years.

When it comes to lettings, we know a thing or two so if you’re considering renting your property for the first time or you’re a seasoned landlord get in touch to find out how Hair & Son can help.

Olivia Dedman

Lettings Manager