The average rent in the UK continues to rise despite a brief drop at the beginning of the year, according to the latest HomeLet Rental Index figures.
The data shows that the average rent in the UK is now £1,184 per calendar month (PCM), which is a 0.8% increase from the previous month’s average of £1,175 PCM.
When London is excluded, the average rent in the UK is £993 PCM, up 1.0% from the previous month.
London rental prices have slowly started to rise again, with average rental prices hitting £1,979 PCM, 0.2% above the previous month.
The North East saw the largest monthly increase, with rental averages rising by 1.6% from the previous month, and average rents rising to £639 PCM.
Commenting on the latest data, HomeLet’s CEO, Andy Halstead, said: “With every region of the country reporting a month-on-month rental price rise, it’s fair to say that demand for rental properties remains exceptionally high.
“It had been interesting to observe a few months of decreased prices in London, but the capital appears to have recovered from a slight dip, in line with rises across the country.”
Halstead added: “The lack of available properties means that the market is likely to continue to be very competitive, so landlords must remain vigilant.”