HomeLet's figures show that the average rent in the UK is now £1064, up 0.4% on the December 2021 figures. When London is excluded the average rent in the UK is now £897, up 0.4% on December.
Average rents in London were £1,760, an increase of 0.5% on December, and up 12.6% on December 2020.
As many as 8 of 12 regions saw a MoM price rise, with Northern Ireland, Wales, Yorkshire & Humberside and the North-East the only regions to see a price fall. North-West of England saw the biggest rise MoM, up 1.3% to £855PCM
Andy Halstead, HomeLet & Let Alliance Chief Executive Officer, comments: “As expected, 2022 has started as 2021 ended, with an imbalance between supply and demand, and inevitably that has brought on price rises, that will likely continue in the coming months.
“There are some caveats, though. Though we have seen another record high rental price this month, we must consider inflation rates, a topic that has been discussed heavily in the past couple of weeks. Based on the latest inflation figures, the month-on-month rent increases have been lower than the wider inflation rate, indicating a level of steady growth.
“The private rental sector has played a key role in the UK throughout the pandemic, and we hope that the government will make things easier for landlords in 2022, to allow them to continue playing a key role in the coming months and years.”
