Home  London Property News  London rents rise 7.6%

London rents rise 7.6%

Reading Time: 2 Mins Read

Landlords in London receive an average rent of £1536 per month for new tenancies. 

london rents riseThe figure for three months to March is 7.64% higher than the first quarter of 2015 when new tenancies in London netted landlords an average of £1427 per month.

However, the annual growth in average rental values in Greater London was lower than the 8.9% rise in 2015.

The only areas of London where rents fell in the 12 months to March 2016 are Hammersmith & Fulham and Kensington & Chelsea.

Insurance provider HomeLet’s latest index shows new tenancy agreements are worth an average of £1768 in Hammersmith & Fulham, down 0.1% on 2015, and £2790 in Kensington & Chelsea, down 6.2% on 2015.

The areas of London were rents rose highest are Barking & Dagenham (10.4%), Westminster (10.3%) and Ealing (10.2%).

The latest index shows that rents on new tenancies outside London rose 4.9% to £755 over the three months to March when compared with 12 months earlier.

Average rents in London are now 103% higher than the rest of the UK. This is slightly up on 2015 when they were 98.2% higher.

Outside London, the highest levels of annual increase have been seen in Scotland (7.3%), the East Midlands (6.8%) and south-east England (6.4%).

North-west England, on the other hand, has seen a continued reduction in rental values of -3.5% over the past nine months.

The lowest amount of rent for new tenancies is paid in north-east England, where landlords receive an average of £531 per month.

For more information on rents received by landlords, click on the link below

City AM

Neil Jennings

Neil background is in marketing and business development and has over 20 years experience in the field. He runs Asset Grove and is involved in the marketing strategy for most of our campaigns.

Related Post

Citizens Advice warns about deposit replacement schemes
Updates: 2 Mins Read
Citizens Advice warns about deposit replacement schemes

Citizens Advice is alerting tenants to the drawbacks of using deposit replacement products instead of a government-backed scheme.

How to work out your property’s rental yield
Updates: 4 Mins Read
How to work out your property’s rental yield

How landlords in London who let their investment properties to families can generate an annual yield of over 4.5%

Our review of 2019
Updates: 15 Mins Read
Our review of 2019

Find out more about what 2019 meant for landlords and tenants, read our review of the year, month by month.