Landlords continue to benefit from the thriving private residential rental market as the average UK rent prices soared 11.8 per cent higher year on year for the three months leading to July.
The HomeLet index, which claims to provide the most up-to-date figures on UK rent prices has detailed the increasingly buoyant rental market, both in and out of the capital.
HomeLet state that average rent prices in London have risen to ?977 a month, whilst without London, an average rest-of-the-UK property rents for £761 a month.
Rent price growth in the private rental sector is now being established across the UK with many regions within the country experiencing faster rise in rent prices than London.
The private rental markets in the south west of England, south east of England and Scotland have all posted rent increases of more than 10% year on year for the three months to July. This is the great news for letting agents who will benefit from the continued increase in average rent prices, as they look to build up a consistent, substantial monthly income.