Editor's note: This brief was summarised by The Property AI Newsroom from a report by Property118. Read the original article for full details.
Renters’ Rights Act Linked to Regional Rent Growth
Rent growth has accelerated across five of England’s nine regions since the Renters’ Rights Act took effect in May, according to a report by Property118. Despite this regional acceleration, the national rate of rent growth remained unchanged.
The report states that the average monthly rent across England increased by 0.6%, rising from £1,442 to £1,451. This increase exactly matches the rise recorded during the equivalent period before the Act’s implementation.
Letting agents and inventory clerks should note that while the national average rent growth has not changed, there are notable regional differences, with five regions experiencing faster rent increases since the Act came into force.
Further details on which regions saw the most significant changes, and the potential implications for the lettings sector, can be found in the original Property118 article.
Source: Property118