Average Cost Of A Rental Home
The average cost of a rental home in Great Britain rose to £999 pcm in December according to figures just released by Countrywide’s Hamptons International brand.
This was a 3.7 per cent year-on-year increase, marking the strongest rental growth recorded in a December since 2014.
However, average cost of a rental home was particularly low in December 2018 and this has boosted the year-on-year comparison slightly.
The South West continued to post the strongest rental growth, with the average rent rising 5.6 per cent year-on-year; meanwhile London followed, with 4.4 per cent rental growth.
Every region recorded rising rents; however Scotland posted the weakest rental growth of 1.7 per cent.
Aneisha Beveridge, head of research at Hamptons International, says: “Rents rose in every region, but those in the South saw the biggest increases. Low stock levels have put pressure on rents, resulting in stronger rental growth during the second half of 2019.”