British Property Award Winner 2017 & 2018
Two new rental reports out this morning show a picture of rising demand.
According to Sequence, part of the Connells Group, the number of new tenancies agreed in the UK has increased 16% year on year.
The agency network says that demand in the UK is up 11% annually but that supply has dipped 13% over the same period.
Reporting for January, it puts the national monthly rent, excluding London, at £702, up 5% on a year ago.
The London average rent is more than double, at an average of £1,494, an increase of 7% compared with January last year.
Meanwhile referencing firm HomeLet, which reports only on newly agreed rents, said that the average rents on new tenancies signed in January were 2.5% up on December.
HomeLet puts the average newly agreed rent in the UK at £889 – compared with £799 in January 2014.
It says average new rents in London last month were £1,425.
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