HomeLet’s Rental Index for October 2015 has reported that when London is excluded, the average UK rental value was £749pcm.
This is 3.5% higher than the same period last year.
However, the annual rate of growth in rental values for the UK, excluding London, was marginally higher last year at 3.9%.
Average rental values have increased in nine out of 12 regions in the UK.
Average rents for new tenancies in London are 7.5% higher than the same period last year. In addition, average rental values in the capital have reached £1,560pcm, so rents in London are now 108% higher than the rest of the UK.
Meanwhile, average tenant incomes were 1.7% higher than the same period last year.