Rents in Great Britain increased 1.9% year-on-year in March, driven by a 3.7% rise in Greater London where rents hit a record high, according to new figures from Hamptons International, part of Countrywide.
The data shows that the average cost of a new let in Great Britain rose to £969 per calendar month (pcm) in March as rental growth continues to rise, led by Greater London, where the average price of a home rose to £1,737pcm, the highest level on record.
Meanwhile, Scotland was the only region where rents fell in March, down -0.1% year-on-year.
New lets (pcm)
|
|
Mar-19
|
Mar-18
|
YoY
|
|
Greater London
|
£1,737
|
£1,675
|
3.7%
|
|
Inner London
|
£2,655
|
£2,592
|
2.4%
|
|
Outer London
|
£1,563
|
£1,501
|
4.1%
|
|
South East
|
£1,028
|
£1,026
|
0.2%
|
|
South West
|
£795
|
£779
|
2.0%
|
|
East
|
£944
|
£936
|
0.8%
|
|
Midlands
|
£680
|
£668
|
1.8%
|
|
North
|
£630
|
£625
|
0.7%
|
|
Wales
|
£655
|
£650
|
0.8%
|
|
Scotland
|
£632
|
£633
|
-0.1%
|
|
Great Britain
|
£969
|
£950
|
1.9%
|
Source: Hamptons International
Aneisha Beveridge, head of research at Hamptons International, said: “Following a sluggish 2018 London rents reached a record high in March.
“The average cost of a new let in London rose to £1,737pcm in March, 2.3 times more than the average rent outside the capital.
“Meanwhile every region in Great Britain recorded rising rents last month other than Scotland.”
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