HomeLet: UK rents to keep rising

Rents are set to continue rising as landlords potentially depart from the market, according to HomeLet’s rental index.

The average rent in the UK has reached £1,127 per month, up 1.3% from last month

Rents in the capital have risen to a new average of £1,868 per month  – an increase of 1.2%

Meanwhile Scotland saw the largest monthly variance, with rents 3.4% higher than last month.

Andy Halstead, chief executive officer of HomeLet & Let Alliance, said: “This month’s figures paint a picture of a rental market that is struggling to meet the needs of renters or landlords, with spiralling prices a bad sign for both parties.

“One of the main factors leading to rising rent prices is a lack of supply on the market to match demand. This problem could worsen if landlords continue to leave the market, leaving a rapidly shrinking supply of available rental properties.

“The issue is reflected by the overall findings from our recent Landlord Survey, where 18% of all landlords that we spoke to said that they expect to reduce their portfolio or leave the sector entirely in the near future – this figure rises higher to 22% for landlords based in London.

“The same survey revealed that four out of five renters (78%) are worried about how they will pay their rent. A market too volatile for landlords to rely on receiving rents due, and properties too expensive for renters to cope with, is clearly unsustainable.”

Comments 1

  1. Rents are being driven up by Sadiq Khan, Generation Rent, Shelter and the Government as all these anti landlord organisations are driving out landlord investors. They have destroyed the confidence to invest in a market where these small minded organisations have been severely landlord bashing now for years. The sad thing is that none of these groups are making investment into people housing requirements and Joe Public believe the spin these oragnisations put out. Easy isn’t it to attack those who are percieved to be well off whereas in reality most landlords in the PRS (small scale housing) have often worked their butts off to invest for a better future, as pension schemes run by insurers are not to be trusted with admin costing more in some instances than returns. Result is simple economics reduce supply, increase demand and the price of the commodity increases i.e. rents go up. You can not bash and smash the living daylights out of investors (landlords) and expect them to roll over becuase some political idiot thinks they should. Clever, as the public fall for the spin or what they want to believe.

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