Rents are rising!

4/12/2018 3:37 PM

Great news for Landlords! According to Homelet, one of the nations largest providers for tenant referencing, national rents are up by 1.7% (excluding London).

Commenting on this month’s data, Martin Totty, chief executive at HomeLet, says:

“Average UK-wide rents continue to increase year-on-year broadly in line with the current rate of inflation and the growth in average wages, meaning affordability in most parts of the country is little-changed.
“The exception is London and the South East, where average rents have increased above both inflation and average wage growth. In contrast to house price trends in this region of the country, activity levels in the private rented sector remain resilient. Landlords committed to the sector here seem able to command higher rents, potentially providing some offset to the negative headwinds of taxation changes some will have experienced.”

Due to the volume of information Homelet receive in relation to rental prices in the UK, their rental price index is often considered one of the most comprehensive. Matin Totty the CEO of Homelet explains a little more about the index in this video.

The average rent in Hinckley & Nuneaton is currently sitting at an average yearly variance of 1.55%. You can view Homelet's rental price index here.

Other posts you may find interesting...

Homes Act 2018: Are you ready?

All social and private landlords (or agents) will now be required to ensure that a property and its common areas are fit for human habitation at the time of the tenancy commencing, and throughout the term. If a home is found to be hazardous, tenants will have the right to take direct legal action in the courts for breach of contract.


Top Tips for Renting Your Home

There are many things to consider when renting out a property. If in doubt, employ an ARLA Propertymark agent to look after your property.


Is your money protected?

From 1st April 2019, it will become a legal requirement for all agents to maintain a dedicated client account, and hold client money protection insurance.


Referral fees are under fire!

The Government will ban referral fees unless agents become more transparent.