• Current : Rental market hotspots released


Rental market hotspots released

Rental market hotspots released

A new report from HomeLet has uncovered the towns and cities where rents rose quickest during 2015.

New research from the HomeLet Rental Index reveals that Brighton, Bristol, Edinburgh and Newcastle recorded the largest increase in rents last year amongst the country’s largest towns and cities. HomeLet’s annual review of the rental market shows that rents on new tenancies signed last year in Brighton and Bristol were, on average, 18 per cent higher than on new tenancies agreed in 2014, while rents were up by 16 per cent in both Edinburgh and Newcastle. London and Liverpool also fall into the top rental hotspots for 2015, both with increases of 11 per cent.

Meanwhile, the monthly HomeLet Rental Index shows that, on average, rents across the UK, excluding Greater London, were 4.9% higher on new tenancies signed during the final three months of the year than in same period of 2014. The average monthly rent outside of the capital now stands at £739. The monthly index shows the London market up by 8.0 per cent on the final three months of 2014 to an average of £1,523.

HomeLet has ranked the major towns and cities in the UK to produce a league table highlighting growth in average rents for new tenancies over 2015 as a whole:

Rental figures from the December 2015 HomeLet Rental Index


Average rent 3 months to December 2015

Average rent 3 months to November 2015



Average rent 3 months to December 2014

Annual variation







North East






Yorks & Humbs






East Midlands






East Anglia






Greater London*






South East






South West












West Midlands






North West






Northern Ireland






UK ex Greater London







source HomeLet

Based on new tenancies in October, November and December 2015

Based on new tenancies in September, October and November 2015

Comparison of average rent in 3 months to end December 2015 and 3 months to end November 2015

Based on new tenancies in October, November and December 2014

Comparison of average rent in 3 months to end December 2015 & 3 months to end December 2014

Martin Totty, Barbon Insurance Group’s Chief Executive Officer, said: “2015 was a year in which rents on new tenancies were up on 2014 in almost every area of the country. While we saw a moderation in the rate at which rents increased during the final months of the year, and even some falls in a number of regions, the sector overall has continued to see strong demand.”
Beneath the headline figures, HomeLet’s data points to some significant variations in rental market performance in 2014, both from region to region and from town to town. In locations such as Brighton and Bristol, demand for rental property appears to have been particularly strong and rents on new tenancies jumped very markedly. In other areas, we saw slower growth.”
The latest figures from the HomeLet Rental Index reveal that rents on new tenancies agreed over the three months to December 2015 fell in eight out of 12 regions of the UK when measured against the three months to the end of November. The West Midlands and Wales (up 1.0 per cent and 0.8 per cent respectively) saw the biggest increases, while Scotland and Northern Ireland (down 2.8 per cent and 1.8 per cent respectively) saw the biggest falls.
On an annual basis, the monthly HomeLet Rental Index shows that rents rose in 10 out of 12 areas, led by London, where rents on new tenancies signed during the final three months of the year were 8.0 per cent higher than in the same period of 2014, and the South-East (7.0 per cent higher). The North-West of England, where rents were down 5.1 per cent compared to 2014, and Northern Ireland (down 0.6 per cent) were the exceptions.
Commenting further, Martin Totty said:
“Rents in London have continued to rise more quickly than in most areas of the country, but not at quite the pace of 2014; meanwhile, average rents outside of the capital rose more quickly last year than in 2014. As a result, we saw a narrowing of the rent inflation gap between London and the regions last year - is this a trend we will see continuing in 2016 from tenants seeking value for money in the private rented sector?”

Join our mailing list:

Leave a comment

Latest Comments

daniel black
daniel black 25 Oct 2016

I've been keeping a close eye on what the effect of Brexit has been on the rental market and it's a very mixed bag. Whilst the majority of the news focuses on London's market. I think this time next year...

view article
Northerner 20 Oct 2016

Any views from outside the M25? No wonder politicians can't get the housing big picture when everyone seems to think that London is the yard stick, when it absolutely is not.

view article
Sean Lees
Sean Lees 13 Oct 2016

I think that the pest control really depends on the situation. If the tenant moved in and found an infestation that needs pest treatment service, I think it's more reasonable that the landlord should pay...

view article
Kevin 13 Oct 2016

Please Sian Berry Dan Wilson Craw LANDLORDS DO NOT WANT TO RAISE RENTS They are being forced to because of Section 24! An unfair, punitive tax hike that will be a disaster Green Party, Generstion...

view article
Fletcher88 11 Oct 2016

Absolutely agree! Moreover property prices edged up with 0.7% this month as the market recovered from the initial Brexit hit

view article
Gary Das
Gary Das 06 Oct 2016

A lot of lenders (especially the high-street banks and lenders people approach first) could do more to accommodate for the self-employed. It can really be a struggle, as I found out myself last year when...

view article
richardrawlings 04 Oct 2016

Not sure I understand this! If Basildon and Hemel rose 68% and 52% respectively, why do they not appear in the top ten list, which appears only to feature those in the minus 20's!! Is it me?

view article
luxus 27 Sep 2016

It can be stressful. More clarity is needed on the process, from a customer perspective and consideration should be given to using the Scandinavian model where the sales process is much quicker.

view article
Melissa_Green 26 Sep 2016

Green belts are normally designated around capitals and other major cities and conurbations and their aim is to prevent urban sprawl by keeping land permanently open. The essential characteristics of green...

view article
Jimmy_McCoy 16 Sep 2016

I think that the main reason to buy garden purchases in last minute is because people always search for the best deal. In summer months there are abundance of seasonal goods and it means more low cost

view article
Jimmy_McCoy 16 Sep 2016

Buying a home often is more expensive than you expect. There are lots of hidden costs such as: stamp duty, surveys and valuations, mortgages etc. that can add more than 10% to the total bill

view article
Homebuyerconveyancing 15 Sep 2016

We are seeing a massive influx of Homebuyers using online Estate Agents. The winners are the online portals that still aim to manage the customer journey to homeownership. They provide a valuation service,...

view article

More articles from Landlords

Buy-to-Let Roadshow 2016

21st-24th November

4 days
7 specialists
4 locations
Free to attend

Click here to register now