New rents in UK up 2.6% in January – Mortgage Introducer

New rents in the UK rose by 2.6% in January. This was the highest January rise for two years. Rent prices continued to fall in London however, but grew in other areas of the country. The area with the highest year on year increase was Wales, which showed a growth of 8.8%. The highest rents are now in £2,298 a month in central London and £1,260 in Greater London, down 6.6% and 2.7% respectively.

Key Takeaways:

  • Over the last decade the proportion of landlords buying with cash has steadily increased.
  • Cash purchases drive the top and bottom of the rental market with the most and least expensive homes most likely to be bought with cash.
  • Some 24% of all landlord cash purchases were funded by the sale of another property elsewhere.

“New rents in the UK increased by 2.6% in January overall year on year, the fastest rise for the month in two years but continued to fall in London, the figures from Countrywide have revealed”

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