7.5% ANNUAL INCREASE IN UK RENTS

News at Ware & Co | 11/10/2021

  • July to September is the busiest quarter of the year for the rental market. In a normal year, 32% of tenancies start in quarter 3. This is likely to be higher in 2021, as students and workers return to cities.
  • It is therefore no surprise that the UK average monthly rent has seen an annual increase of 7.5% and is higher than pre-pandemic levels.
  • Wales has seen the largest annual increase in monthly rent, 12.9%, followed by Scotland, 10.5%, and the East Midlands, 8.4%.
  • Rental growth forecasts for the next 12 months are slightly above 3%. Over the next five years, rents are forecast to increase by 4% per annum across the UK (RICS). Source: Dataloft, HomeLet, Royal Institute of Chartered Surveyors

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