Rental growth is heating up
Tue, Jul 16, 2019
Along with the summer weather, the Office for National Statistics has reported that rental growth is heating up!
At 1.3%, annual rental price growth across the UK in the year to May is at its highest level in 18 months.
The East Midlands, South West and Yorkshire and the Humber are currently ranked the top three regions for growth, with rents rising by 2.1%, 2.0% and 1.8% respectively.
Average rental growth across the London region averaged -0.1% during 2018. The 0.9% rise recorded this month was the highest rate of growth across the capital since September 2017, while in the North East, at 0.5%, rental price growth is at its highest level since the summer of 2017.
Across the East of England, South East and South West, rental price growth currently exceeds annual levels of house price growth.