Rents on the rise

The average monthly rent in the UK in now at a record high of £1,029. In the twelve months to July 2021, UK monthly rent increased by 6.6%, rising from £965 to £1,029.
In July, all regions in the UK experienced an annual increase in monthly rent, with the South West experiencing the biggest increase, 12.9%.
Over one in five of all new rental tenancies are agreed in August and September, so the next two months are set to be busy.
Rental forecasts look strong, with the RICS residential survey forecasting rents to rise +3% over the next twelve months. Source: Dataloft, HomeLet.