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Average UK Rents Hit New Record High

Published: 12th July 2022

Average UK Rents Hit New Record High

New figures released today by HomeLet show that the average UK rent has now risen to a record £1,113pcm, a rise of 0.9% from the previous month. The data reported by HomeLet is based on achieved rental values for recently agreed tenancies, providing a clear and up-to-date picture of the UK lettings market.

Whilst the average rental figure across the UK showed a rise of 0.9%, there were some notable variations across the regions. In particular, the London rental market saw an increase in average rents of 0.8%, delivering an average rent in London of £1,846pcm. The largest increase in rents was reported in Scotland, where the monthly increase was 3.3% on the previous month. The increase in average rents will serve to increase affordability pressures on tenants across the UK property market.

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