Editor's note: This brief was summarised by The Property AI Team from a report by Property118. Read the original article for full details.
England’s Rents Increase by 0.5% in May, Annual Growth Remains Low
Average rents in England rose by 0.5% in May, following a fall in April. However, annual rent growth is at its lowest level for 10 months, according to the Goodlord Rental Index reported by Property118.
The data shows that average rents reached £1,211 in May, up from £1,205 in April. Despite this monthly increase, rents were only 1.7% higher than in May of the previous year.
This information is relevant for UK letting agents and inventory clerks monitoring rental market trends. The figures indicate a modest monthly rise but subdued annual growth, which may impact rental valuations and tenancy negotiations.
Source: Property118