Rental values are still increasing

Rental values

Rental values are still increasing

Rental prices increased by 1.2% in February according to the latest HomeLet Rental Index.

According to the figures provided by the insurance company, rents in London increased by 1.1% in February 2018 and the average rent in the capital now stands at £1537 a month.

Rents rose in almost all regions of the UK and the average monthly rent across the UK is now £906.

When London is excluded, the average UK rental value was £758 in February 2018; this is up 2.3% on last year.

The table below provides a regional breakdown of the latest average rental values in the UK.

Rental figures from the February 2018 HomeLet Rental Index

Region Average Rent in February 2018 Average Rent in January 2018 Average Rent in February 2017 Monthly Variance Annual Variance
Scotland £632 £625 £597 1.1% 5.5%
Nothern Ireland £631 £624 £604 1.1% 4.3%
East Midlands £619 £617 £595 0.3% 3.9%
West Midlands £676 £674 £659 0.3% 2.5%
South West £806 £817 £791 -1.4% 1.9%
East of England £907 £906 £896 0.1% 1.2%
North West £688 £683 £680 0.7% 1.2%
Greater London £1.537 £1.532 £1.520 0.3% 1.1%
Yorkshire & Humberside £625 £623 £621 0.3% 0.6%
South East £995 £995 £992 0.0% 0.3%
North East £520 £537 £522 -3.3% -0.4%
Wales £593 £603 £602 -1.7% -1.5%
UK £906 £909 £895 -0.3% 1.2%
UK excluding Greater London £758 £760 £746 -0.3% 1.6%

 Source: https://homelet.co.uk/homelet-rental-index