The average rent in London reached £2300

Amid rising prices for residential property in the UK, and growing average monthly rents.

The average rent for a single residential property in the UK has reached £1000 pounds per month, and in London the average price for the rental of residential property amounted to £2300 pounds in a month.

Several influential indices in the UK have confirmed that the average price to rent a home or apartment in the UK exceeded £1000 pounds.

However, price varies depending on location.

At the average price of rent is heavily influenced by high rates in London and the South East of England, which participate in the formation of average prices in the country. Rental price in the capital has exceeded even the Olympic prices during the Olympics 2012.

Seeing the growth of 4.68% in absolute terms – £103 pounds for 12 months, the rental market in London , according to forecasts , will reach its peak next year.

Outside London and the South coast of England, a surge of interest in rental real estate in great Britain occurs in Scotland, where the average rent is already continuously growing since Nov 2013 and has now reached a value of £726 per month. Rents in Scotland rose by more than £50 or 7.5% since may 2013. Presumably, this trend should continue, which will allow Scotland to become the most stable region of the UK over the past two years.

Quite a different situation in the North of England. In the North-West, in Yorkshire, the Humber and the North East of England rents even declined slightly in may 2014. And the North-Eastern part of England generally the most unpredictable region – having experienced the temporary UPS and downs, the average rents in the North East of England have fallen to two-year low of £639 pounds per month.

Meanwhile, the news of the rising rents is positive news for landlords, which will hit the pockets of tenants across the country. The ideal solution for the market and for tenants will increase the scale of construction and supply on the market of new residential properties.

® Helen Antre 25.06.2014 g.

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