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RESIDENTIAL RENTS RISING

Residential rents rising
  • The ONS (Office for national Statisitcs) reported a 1.4% annual increase in private rents in November and according to agents, tenant demand was more or less unchanged.
  • All regions saw an increase in private rents. The South West saw the biggest annual increase, 2.3%. Scotland had the smallest annual increase, 0.6%.
  • Near term rental growth expectations remain slightly positive, with most parts of the UK expecting an increase. London is a clear exception.
  • According to Dataloft Rental Market Analytics, 28% of leases are set to expire in Q1 2021, a busy month for agents.
  • In the last 12 months rental values in Bromley have increased by a whopping 7.3% last 12 months

Source: Dataloft, ONS, RICS



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