The South-West England region registered the highest growth in residential rental during May 2017, according to the latest Rental Index released by Landbay.
“Out of the 15 regions that make up the South-West, properties in 2/3 of the areas experienced an increase in rental prices since the previous month (May 2017), with the greatest increase being in Bath and NorthEast Somerset at 0.55%,” the report said.
The South-West region took 1/5 of the top 30 spots for UK areas with the greatest positive change since June 2016. Swiping 10th, 17th, 21st, 24th, 26th and 30th spots, the areas of Bath and North-East Somerset, North Somerset, Bristol, South Gloucestershire, Swindon and Bournemouth, respectively, each boasted an average annual rental growth of up to 3.28 per cent.
Other areas outside this region which enjoyed significant growth in rent are Luton, Edinburgh City and Peterborough, all of which experienced an average annual price increase of up to 4.59 per cent.
Rents across the rest of the UK have increased by an average of 0.24 per cent during the first six months of 2017. This is a third of the pace at which they grew at the same time during the previous year. Bexley and Greenwich are the few outer boroughs of London to experience positive growth at an average of 0.16 per cent, Landbay data revealed.
The Landbay Rental Index includes unique granular level detail, looking at local trends to the county and London Borough level, including further segmentations by number of bedrooms