16 January 2018
Predictions for strong rental growth in 2018 – Lettings Index December 2017
Rental growth rises by a third from 1.8% in 2016 to 2.4% in 2017 in the UK, and 2.0% excluding London.
Yorkshire and Humber goes from the slowest rate of rental growth in 2014 to 3rd / 4th fastest in 2016/17 respectively.
Proportion of homes bought by a landlord drops to 12.5%, a nine year low.
Number of homes on the rental market in 2017 was 4% lower than in 2016.
Rental growth across Great Britain picked up in 2017. Last year rents rose by an average of 2.4%, an increase from 1.8% in 2016. The average rent ended the year at £625 per month in the North (up by 2.0% from the start of the year), in contrast to £960 per month across UK (a rise of 2.4%).
While rents rose a third faster than they did in 2016, rental growth was still behind than in both 2015 (3.2%) and 2014 (4.9%). Forty-six per cent of landlords increased the rent when re-letting their home, up from 37% in 2016.
For a full breakdown of research summarising performance across the regions in 2017 and predictions for how this will affect 2018, please click below: