The average rent in the UK hit another record high in January, edging up by 0.4% on the December figure, the latest data released by HomeLet shows.
The figures reveal that the UK monthly rent level reached £1,064 per calendar month (pcm) last month.
When London is excluded the average rent in the UK is now £897pcm, also up 0.4% on December.
Average rents in London were £1,760pcm, an increase of 0.5% on December, and up 12.6% on December 2020.
Eight of the 12 UK regions recorded by HomeLet revealed an increase last month, led by gains in the North West England – up 1.3% month-on-month.Northern Ireland, Wales, Yorkshire & Humberside and the North East were the regions to see a fall.
Andy Halstead,?HomeLet?& Let Alliance chief executive officer,?said: “As expected, 2022 has started as 2021 ended, with an imbalance between supply and demand, and inevitably that has brought on price rises, that will likely continue in the coming months.
“There are some caveats, though. Though we have seen another record high rental price this month, we must consider inflation rates, a topic that has been discussed heavily in the past couple of weeks. Based on the latest inflation figures, the month-on-month rent increases have been lower than the wider inflation rate, indicating a level of steady growth.
“The private rental sector has played a key role in the UK throughout the pandemic, and we hope that the government will make things easier for landlords in 2022, to allow them to continue playing a key role in the coming months and years.”
Table: Final Rental figures from the January HomeLet Rental Index
| Region | January-2022 | December-2021 | January-2021 | Monthly Var | Annual Var |
| Greater London | £1,760 | £1,752 | £1,563 | 0.5 % | 12.6 % |
| Northern Ireland | £705 | £724 | £648 | -2.6 % | 8.8 % |
| North-West | £855 | £844 | £775 | 1.3 % | 10.3 % |
| Wales | £727 | £736 | £675 | -1.2 % | 7.7 % |
| Yorkshire & Humberside | £726 | £737 | £680 | -1.5 % | 6.8 % |
| North-East | £578 | £580 | £540 | -0.3 % | 7.0 % |
| Scotland | £747 | £738 | £683 | 1.2% | 9.4 % |
| West Midlands | £792 | £786 | £741 | 0.8 % | 6.9 % |
| East Midlands | £746 | £742 | £698 | 0.5 % | 6.9 % |
| South-West | £989 | £983 | £919 | 0.6 % | 7.6 % |
| East Of England | £1,035 | £1,031 | £979 | 0.4 % | 5.7 % |
| South-East | £1,128 | £1,123 | £1,094 | 0.4 % | 3.1 % |
| UK | £1,064 | £1,060 | £981 | 0.4 % | 8.5 % |
| UK excluding Greater London | £897 | £893 | £839 | 0.4 % | 6.9 % |