The population of London has increased by 1 million in 10 years

The average price at which put on the rental market property in the UK, increased by 0.77 % in January 2013. The largest growth in rents was in Scotland, where prices rose by 3.57% and the average rent per month amounted to £676.

In comparison with the rent in January 2013, rents rose by 1.63% and now the average for the UK it amounts to £987 pounds per month. There is every reason to believe that in 2014 this figure will cross the milestone of £1000 pounds.

The average rent in London increased by 0.61% in January and reached the value of £2221 per month. Rents for residential property in London remains the most expensive in the UK and it is almost twice higher than in the South of England – the second most expensive region, where the average rent today is £1138 per month.

About a significant increase in their income in 2013, said the landlords of Scotland, East Anglia and South-East England, where rent growth was 3.57%, a 3.45% and 2.17%, respectively.

Tenants in Wales and the North East saw a monthly fall of rent in January 2014 by 0.98% and 1.77%, respectively, compared to last year. However, the fall occurred after the excessive growth around £60 pounds per month increased rent for property in Wales and in the North-East in the fourth quarter of 2014 and the market just found your balance of supply and demand is uneven after the jump. Thus, now the average rent in Wales £679 per month and in the North-East – £695.

The jump in rents in Scotland became possible thanks to creation of new jobs and high salaries in the industries of oil and gas industry of Scotland.

In London a significant impact on the prices in the rental market is having population growth. According to the latest data from the national Fund statistics, the population of London reached 8.17 million, and more than a million more than the population of London 10 years ago.

South-East and the South of England are also affected by population growth, which is the wave effect spreading from London. Unable to bear the high rents in London, people are in the suburbs, which affects growth rates in cities, adjacent to greater London.

This trend has no signs of stopping in 2014.

® Helen Antre 14.02.2014 g.

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