The average rent in the UK has reached another record high of £1,091 per calendar month (pcm), up 2% on last month, with every single region in the UK seeing a month-on-month rise, the latest figures show.
Average rents in London remain the most expensive in the UK, having risen again. Rents in the capital have risen to a new average of £1,804pcm – an increase of 9% on the figures from March 2022.
But when the the capital is excluded the average rent in the UK is now £920pcm, up 1% on last month, according to the HomeLet Rental Index.
The South West saw the next largest monthly variance, which is up by 8% to a new average of £1,035pcm.
Outside of London, Scotland saw the largest annual variance at 12.3% – the average rent north of the border is now £774pcm.
Andy Halstead, HomeLet & Let Alliance CEO, said: “The cost-of-living crisis has been widely publicised, and it is inevitable that energy price rises and extra expense in other areas will mean that it will become harder and harder for tenants to pay their rent every month.
“Considering the increasing difficulty for tenants to pay rent, and the fact that our internal data shows that fraud is on the rise, it is impossible to escape the conclusion that it is vital for agents to protect their landlords and keep a strong relationship with them by using high quality referencing checks and a water-tight rent guarantee product.
“A broader analysis of the Rental Index data confirms that the demand for rental properties is continuing to outweigh supply massively, which will surely lead to continued price rises to differing extents across the country.
“Finally, we can see that London has well and truly bounced back from a lull during the height of the pandemic, with a strong performance in the capital continued by another price rise.”
Table: Final Rental figures from the April 2022 HomeLet Rental Index
| Region | April-2022 | March-2022 | April-2021 | Monthly Var | Annual Var |
| Greater London | £1,804 | £1,770 | £1,580 | 1.9 % | 14.2 % |
| Scotland | £774 | £770 | £689 | 0.5 % | 12.3 % |
| North West | £878 | £871 | £791 | 0.8 % | 11.0 % |
| South West | £1,035 | £1,017 | £955 | 1.8 % | 8.4 % |
| Yorkshire & Humberside | £749 | £743 | £693 | 0.8 % | 8.1 % |
| West Midlands | £813 | £804 | £755 | 1.1 % | 7.7 % |
| Northern Ireland | £721 | £718 | £670 | 0.4 % | 7.6 % |
| Wales | £734 | £726 | £686 | 1.1 % | 7.0 % |
| North East | £594 | £589 | £555 | 0.8 % | 7.0 % |
| East Midlands | £755 | £749 | £709 | 0.8 % | 6.5 % |
| East Of England | £1,055 | £1,044 | £993 | 1.1 % | 6.2 % |
| South East | £1,164 | £1,148 | £1,102 | 1.4 % | 5.6 % |
| UK | £1,091 | £1,078 | £996 | 1.2 % | 9.5 % |
| UK excluding Greater London | £920 | £910 | £853 | 1.1 % | 7.9 % |
SOURCE: Property Industry Eye| MAY 6, 2022 | MARC DA SILVA
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