Of all UK regions, London has demonstrated the sharpest slowdown in annual rental growth.
Compared to last year’s +15.3% annual growth, London rent has risen at a rate of +5.1%.
London’s quick drop in growth has significantly contributed to the slowing of average rental growth in the UK, as growth is similar across most of the country to last year. The average rental growth for the UK is 9%, excluding London, compared to the overall average of 7.8%.
As expected, Scotland has the largest rental increase, registering 11.6% positive growth. Scotland’s rental inflation for new lets has been extremely high since a rental cap was introduced to existing tenancies.
Scotland’s rent cap makes it an exception, but very high growth similar to last year has also been seen in the North East (9.9%) and the North West (9.8%).
Read More: Decipher buy-to-let property in London and how to make money with property with the latest RWinvest market insights!
