Average rent surges to £2,712 in London and £1,365 across UK

The rent cost in London climbs £ 2.712 per month, climbing in a quarter of the 15th consecutive quarter, while the tenants in England pay an average of £ 1,365.

The ownership site Rightmove (RMV.L) data showed that new tenants are now paying an average of £ 417 more than 2020 compared to 2020. This is a 44% increase in rents, which is far above a 36% increase in average earnings in the same period.

Rightmove’s property expert Colleen Babcock said: “Despite another new record that wants average rents for tenants, the big picture annual rent increases continue to slow down, which is good news for the tenants.”

“Supply and demand are gradually re -balanced towards normal levels, but we still have a way to go before reaching the houses before 2020. The good news shows that the latest industrial instance should help bring more houses to the rental market than last year.”

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Suburban Kemer towns and traditionally low -rent northern regions saw the most upright increases. The Ascot in Berkshire saw the biggest annual leap and the average rents rose to £ 1,863 at 21%. Farnham in Surrey closely followed a 19% increase in the midst of the powerful demand in the wealthy areas of London.

North towns, such as Rochdale and Stockport in Greater Manchester, saw that rents increased by 17% and 15%, respectively, and were pushed with the increasing demand combination of remote workers looking for low base prices and compliance. Glasgow, the largest city of Scotland, increased by 12% per month and reached £ 1.219.

Many towns, including Birkenhead and Prenton in Wirral in the North West, recorded 11%rent increase due to a wider price print tendency beyond traditional hot spots.

Watford, Andover and Kidderminster have seen a double -digit increase.

The average rents advertised for new properties in London rose by 0.5% in this quarter.

The number of existing rental houses increased by 15% compared to last year, the North East saw the biggest leap (33%). However, the number of existing properties is 29% below pandemic levels.

At the same time, the tenant demand fell by 10% annually and caused a decrease in competition for rental properties. The average number of queries per typical rental property is 11 to 11 last year, but in 2019 it was higher than 7 investigations per property.