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UK rents up 4% year-on-year

marcfaubeau

Analysis by SpareRoom shows that all UK regions experienced year-on-year room rent increases in February, with an average increase of 4%. London saw the biggest increases since before the pandemic began, with average room rents now at £796 per month, having fallen to £703 as low as in March 2021. Some postcodes in the capital have recorded huge increases over the year, with rents in W1 up 33% while there were 31% increases in both NW8 and SW1. While rents are up, supply across the UK is down 32% year-on-year, while supply in London is down by 53% on February 2021. The report also found that 42% of London landlords currently do not have confidence in the rental market. Of these, 20% plan to leave the rental market and 11% plan to reduce their portfolio.

Refinery 29 City A.M.

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