Editor's note: This brief was summarised by The Property AI Team from a report by Property118. Read the original article for full details.
London Leads UK Rent Growth in July, Reports HomeLet
Average rents across the UK increased to £1,369 per month in July, up 1.2% from £1,353 in June, according to the latest figures from HomeLet, as reported by Property118. The average rent was also 4.3% higher than the £1,313 recorded in July last year.
Excluding Greater London, average rents reached £1,170, representing a 1.1% rise from June and a 3.4% increase over the year.
These figures highlight ongoing rent growth across the UK, with London leading the trend. Letting agents and inventory clerks may wish to note these changes when advising landlords and tenants or preparing tenancy agreements.
Source: Property118