Rents rise in London in the year to June 2018
Rents in London have increased in the year to June 2018, new data reveals.
According to figures from Landbay’s Rental Index, rents rose by 0.10% between June 2017 and June 2018.
Since December 2016, rents have fallen in London, but June this year saw familiar trends take a sudden turn.
However, while rents have risen slightly in the capital, rental growth is slowing across the rest of the UK.
Of the data, Chief Executive of Landbay, John Goodall, said: “the overall trend has been a slowing of rents across the UK in the first half of this year.”
“However, much of this has been London weighing down heavily on otherwise resilient growth across the UK. Now that London rents have bounced back to growth this could all be about to change.”
Landlords have had to face multiple changes to the buy-to-let market in recent years, including the changes to tax relief, which continues to be phased in. It’s predicted that many landlords, especially those in London, may need to increase rents to cover their costs.
The average monthly rent in London now stands at £1,884, which compares with an average monthly rent of £764 across the rest of the UK.
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