Finance

Rents continue to rise as more tenants enter market: haart

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11th October 2017

The number of tenants entering the market across the UK rose by 3.4% in September, according to research from haart.

Due to this rise in demand, rents have risen by a further 0.6% on the month, with the average rent now sitting at £1,268 across the UK.

Demand in London has also risen by 2.5% on the month, however is down 26.5% annually. London rents have risen by 1.5%, and the average rental price now sits at £1,788.

The number of landlords registering to buy also rose by 5% across England and Wales, however has fallen by 1.1% in London. The annual fall is greater, 20% and 37% on the year respectively.

The number of buy-to-let sales fell on the month by 2.6% in England and Wales, and by 2.5% in London. This came as sale prices fell by 1.9% across England and Wales, and rose by 9.7% in London.

Across England and Wales, house prices in September dropped by 1.6% on the month, but are up 0.5% on the year.

The average purchase price for first-time buyers has risen by 9.9% on the month, and by 0.1% on the year. This comes as the number of first-time buyers entering the market has fallen by 0.6% on the month, and by 10.6% on the year.

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