Rental values strengthening The rental market across the UK has experienced mixed fortunes since it reopened its doors last June. Tenant demand is building but new instructions to the market remain muted. Pressure on stock is fuelling price growth in many areas. Recovery continues The average rent in the UK is now £996 per month, up 2.9 percent on a year ago (Homelet). Excluding London, average rental values are £853 per month, up 6.2 percent. Rental value growth is strengthening as tenant demand builds against a backdrop of low supply. New instructions to the market were nine percent lower year-on-year over the first three months of 2021 (TwentyCi). Prime market rents are recovering, with an average rent of £2,953, just a 0.4 percent fall on a year ago. In London, despite an uptick in the volume of lets agreed to date in 2021, continued travel restrictions and an abundance of stock are still having an adverse effect. The average rent for a...
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